Daniel Walker
BitMine Immersion Technologies has reportedly added 46,255 ETH valued at $201 million to its corporate Ethereum reserves, according to blockchain analytics firm Onchain Lens.
The transfer was traced to three addresses linked to a BitGo wallet, with one wallet confirmed as belonging to BitMine. While the other two remain unmarked, Onchain Lens said its forensic analysis and proprietary algorithms tied them back to the company.
BitMine has not yet officially confirmed the acquisition, and inquiries are still pending.
BitMine Targets 5% of Ethereumโs Total Supply
With this addition, BitMineโs Ethereum stash has grown to 2,126,018 ETH โ worth nearly $9.3 billion, making it the largest Ethereum treasury holder worldwide, according to Onchain Lens.
The firm has previously disclosed its ambition to accumulate 5% of Ethereumโs total circulating supply, further cementing its influence within the ecosystem.
Earlier this week, BitMine announced its ETH holdings had already surpassed 2.069 million tokens, underscoring its aggressive accumulation strategy.
Strategic Investment Beyond Ethereum
In addition to its Ethereum expansion, BitMine revealed a $20 million strategic investment in Eightco Holdings (OCTO). This forms part of Eightcoโs $270 million PIPE deal, which supports the companyโs plan to make Worldcoin (WLD) its main treasury asset.
BitMine Stock Surges With Crypto Growth
Investor sentiment appears bullish. BitMine (NYSE: BMNR) closed Wednesday at $45.6, gaining 2.24% on the day. More impressively, the stock has soared over 714% in the last six months, reflecting growing enthusiasm around its aggressive crypto treasury strategy.
