BitMine Becomes the "King of Ethereum" with a Treasury of $6.61 Billion

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The cryptocurrency market witnessed a historic milestone as BitMine Immersion Technologies officially announced that its total crypto asset value surpassed $6.61 billion as of August 17, 2025. This impressive figure includes 1,523,373 ETH (at an average price of $4,326 per ETH) and 192 BTC, positioning BitMine as the largest Ethereum treasury in the world and the second largest globally in terms of crypto treasury size.

Rapid Accumulation

With a balance of $6.61 billion, BitMine has overtaken MARA ($5.86 billion) to claim the second spot globally, only behind Strategy, which holds 629,376 BTC worth over $72.5 billion. This achievement is particularly remarkable as BitMine has transformed from zero to the “king of Ethereum” in just six weeks.

The numbers illustrate BitMine’s astonishing ETH accumulation rate:

Last week: Increased by 373,110 ETH, equivalent to nearly $1.6 billion
August 11, 2025: Held 1.15 million ETH ($4.71 billion)
August 4, 2025: Owned 833,137 ETH (~$3.41 billion)
June 30, 2025: Launched the strategy from zero

In just five weeks, BitMine has become the world’s number one ETH treasury and the second largest crypto treasury globally.

Strategic Significance

BitMine’s leadership asserts that Wall Street and the AI sector will position Ethereum at the center of long-term capital flows, heralding profound changes in the global financial system. This perspective reflects a strong belief in Ethereum’s potential as a next-generation financial technology platform.

The rising demand for spot ETH, combined with a long-term investment strategy, could trigger capital inflows into related areas:

Layer-2 solutions: Ethereum’s scaling solutions
Staking: Services for earning profits through staking
RWA (Real World Assets): Tokenized real-world assets
DeFi: The decentralized finance ecosystem

Market Impact and Competition

BitMine’s ascent to the top two globally has intensified the “crypto treasury” race. This could lead to new acquisitions by competitors, applying positive pressure on ETH prices.

On August 18, ETHZilla, another Ethereum investment company, also announced the purchase of an additional $53 million in ETH, raising its total holdings to 94,675 ETH (approximately $402 million). This highlights the growing trend of institutional investment in Ethereum.

As of August 18, 2025, statistics show:

Ethereum investment companies: Holding a total of 4.09 million ETH ($17.53 billion)
Ethereum ETFs: Owning an additional 6.55 million ETH ($28 billion)
Total: Over 10.64 million ETH ($45.53 billion) held by institutions

Accumulating ETH at high price levels puts BitMine at risk of significant volatility if the market experiences sharp corrections. This strategy requires a long-term vision and a high tolerance for risk.

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