BitMine Becomes Second Largest Crypto Treasury With $6.6B in Ethereum

Meta Description: BitMine surges to the second largest crypto treasury with $6.6B in Ethereum, driving Wall Street interest and reshaping finance.

BitMine now controls $6.6B in Ethereum, making it the largest ETH treasury and the second biggest crypto holder worldwide.

The company added 373,000 ETH in one week, racing toward its target of owning 5% of the entire Ethereum supply.

Wall Street interest and AI growth on Ethereum are fueling BitMine’s bold strategy and transforming global finance at record speed.

BitMine has rapidly emerged as a major force in the crypto market, holding the second largest corporate treasury worldwide. The company disclosed that it now controls more than $6.6 billion in Ethereum and Bitcoin. This positions BitMine behind only Strategy Inc. (MSTR), which dominates with nearly $74 billion in Bitcoin holdings

The announcement, verified by Arkham data, highlights the firm’s aggressive expansion into Ethereum. BitMine currently owns 1.52 million ETH, representing 1.26% of the total supply.

Ethereum Treasury Strategy Gains Momentum

BitMine launched its Ethereum-focused treasury strategy at the end of June. Since then, the company has expanded with remarkable speed. In just one week, its ETH holdings jumped by $1.7 billion, rising from 1.15 million to 1.52 million tokens

Moreover, this rapid accumulation makes BitMine the largest Ethereum treasury in the world. Hence, the firm is already 25% closer to its goal of capturing 5% of ETH supply.

Chairman Thomas Lee of Fundstrat explained that institutional investors are fueling this momentum. Besides, he emphasized that Ethereum represents one of the most compelling macro trades for the next decade

According to Lee, Wall Street’s digital shift and AI adoption will primarily unfold on the Ethereum blockchain. Consequently, he believes this trend will transform financial systems at a scale unseen since the 1971 end of the gold standard.

Market Impact and Broader Context

BitMine’s aggressive ETH purchases directly affect market liquidity and investor sentiment. Additionally, the company has become one of the most actively traded US stocks. Fundstrat reports that its stock averaged $6.4 billion in daily trading volume during early August. Hence, BitMine’s stock liquidity provides investors with exposure to its crypto strategy in a public market setting.

The wider implications are significant. Ethereum continues to attract global attention, trading around $4,226 despite a slight daily decline. Moreover, BitMine’s conviction in Ethereum underscores a growing institutional belief in blockchain’s long-term role. The GENIUS Act and SEC’s Project Crypto could further reshape regulation, echoing past financial transformations.

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