BitMine Acquires $820 Million in ETH, Becoming Top Holder

The price of Ethereum (ETH) has seen a significant rise, climbing to approximately $4,684 after BitMine Immersion Technologies announced a massive purchase of the cryptocurrency valued at around $820 million. The move, revealed on October 7, 2025, solidifies the company’s position as the world’s largest institutional holder of Ethereum.

According to an official statement, BitMine’s holdings now exceed 2.83 million ETH. This acquisition brings the company’s total crypto assets and cash reserves to over $13.4 billion. Its diversified portfolio also includes 192 Bitcoin (BTC), $456 million in cash, and a $113 million equity stake in Eightco Holdings. With this latest purchase, BitMine has become the second-largest corporate crypto holder overall, trailing only MicroStrategy, which holds over 640,000 BTC.

Market Rally Lifts Both Crypto and Company Stock

The announcement coincided with a strong performance for Ethereum, which recorded a 3.26% increase in 24 hours. The asset has grown more than 211% over the last six months, with year-to-date gains standing at approximately 38%. This upward trend is largely attributed to growing institutional staking activity and the recent launch of the first Ethereum staking Exchange-Traded Fund (ETF), which has fueled expectations of wider adoption in the financial sector.

The positive market sentiment has also dramatically impacted BitMine’s stock (BMNR), which rose 9% to $61.90 following the news. The company’s share price has surged by an impressive 782% in the past six months, establishing it as one of the fastest-growing blockchain-focused stocks on Wall Street.

Record Institutional Inflows Signal Growing Confidence

Broader market data reflects a strong institutional appetite for Ethereum. A recent report from CoinShares detailed weekly inflows of $1.48 billion into Ethereum investment products, pushing the year-to-date total to a new record of $13.7 billion. On-chain data further supports this trend, showing a continued decline in ETH supply on exchanges as more investors move their assets into private wallets for long-term holding.

BitMine’s increased activity has also translated to remarkable trading volumes. With an average daily volume of $2.5 billion, BMNR is now the 28th most actively traded stock in the United States, surpassing major companies like Nike and ranking just below JPMorgan in transaction value.