BitMine Immersion Technologies reported holding 5,983,940 ETH in a September 21 filing, bringing the company within 16,060 tokens of a 6 million ETH treasury.
The company valued its combined disclosed holdings at $17.1 billion. Ethereum accounts for the largest share of the portfolio, while the filing also lists 212 BTC and $714 million in cash and marketable securities.
ETH makes up the core of BitMine’s treasury
Based on the circulating-supply figure used in the filing, BitMine’s Ethereum holdings represent approximately 4.9% of the circulating ETH supply. The disclosure does not state that the company has reached the 6 million ETH threshold, nor does it provide details about any future purchases.
Beyond its cryptocurrency holdings and liquid assets, BitMine reported a $180 million stake in Beast Industries and a $105 million stake in Eightco. Those investments mean the company’s balance sheet extends beyond its Ethereum strategy, although ETH remains its dominant treasury asset.
Growing role of corporate Ethereum treasuries
Corporate crypto treasury strategies have historically been associated mainly with Bitcoin. BitMine’s reported position highlights the expanding role of Ethereum-focused treasury companies and gives the firm substantial exposure to movements in ETH as well as developments affecting the Ethereum ecosystem.
For now, the filing confirms 5,983,940 ETH and $17.1 billion in total disclosed treasury assets. It does not confirm when, or whether, BitMine will exceed 6 million ETH.
