The crypto treasury company led by Tom Lee said in the press release dated September 22, 2025, that it now had 2.4 million ETH, making it the holder of more than 2% of the total supply of Ethereum.
As per the press release, the Ether held by Bitmine Immersion is valued at $10.1 billion, making it the top corporate holder of ETH. The purchase has been made at an average price of $4,500 each, yet when writing, it was trading at $4,196.
Data from StrategicETHReserve(dot)XYZ Bitmine Immersion owns most Ethereum among publicly listed companies, followed by SharpLink Gaming, which holds 0.69% of Ethereum, and The Ether Machine holds 495.36k Ether.
The total Bitmine’s ETH holdings with cash, moonshot, and other crypto is $11.4 billion, and is now the 24th most traded stock in the United States.
Bitmine aims to buy more ETH as a long-term strategy
Another press release published on Sept 22 notes that Bitmine has entered into a securities purchase agreement with an institutional investors related to offer and sale of 5217715 shares of the company’s common shares par value $0.0001 per share for $70 per share and warrant to purchase up to 10,435430 shares of common stock at an exercise price of $87.50 per share through a registered direct offering transaction.
At the time of writing, Bitmine stock is priced at $55.10 with a loss of 10.10% in the last trading session, yet in the past five sessions, it grew by more than 2.60%. Despite the most recent decline, the stock is priced above its 20-day, 50-day, 100-day, and 200-day exponential moving averages.
Market watchers argue that if the bull action in Bitmine stock continues, there are higher chances of it soon beating its annual price target of $60, which is nearly 8% less than the current price.
A quick update on Ethereum prices
Over the past 7 days, Ethereum prices fell by 7.03% and in a month, it lost 11.94% of its price, but in a quarter, it is still 71.71% in an upward direction and grew by 109% in the last six months.
The chill in prices with market capitalization and dominance has been noted since the last few sessions, and this is termed the correction and establishment of new support somewhere near $4,200.
Ethereum is currently dominating 13.20% of the crypto market, with a decline of 4.40% in a week and 9.67% in the past 30 days. At a point this year, it was seen dominating nearly 16% of the market, with capitalization peaking to new heights.
The current market cap is $508 billion, which fell by 7% in the weekly trading frame and more than 11.50% in the last 30 days.
