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BitMine Surpasses MARA in Crypto Reserves With Massive Ethereum Accumulation
BitMine Immersion Technologies, chaired by Fundstrat’s Tom Lee, has now become the second-largest crypto treasury in the world—surpassing even MARA in asset value.
1.52 Million ETH Now Held by BitMine
The company recently updated its Ethereum holdings to 1.52 million ETH, valued at approximately $6.6 billion. This puts it ahead of MARA’s Bitcoin stash worth $5.88 billion, placing BitMine just behind MicroStrategy, led by Michael Saylor.
In just one week, BitMine added 373,110 ETH, increasing its holdings by around $1.7 billion despite a recent market correction.
Institutional Demand Driving ETH Strategy
Tom Lee noted growing institutional interest in Ethereum, describing it as a key long-term macro investment. “Wall Street and AI moving onto the blockchain will drive a significant transformation in finance,” said Lee, adding that Ethereum remains at the center of this shift.
Ethereum currently leads with over 55% market share of tokenized real-world assets (RWA), including stablecoins, according to RWA.xyz. Analysts from JP Morgan also highlighted Ethereum’s central role in the stablecoin ecosystem.
BitMine Eyes $20 Billion ETH Treasury
BitMine now controls 37% of the total ETH held by corporate treasuries, which currently stands at over 4 million ETH across all firms—worth about $17.6 billion. The firm aims to grow this to $20 billion in the coming years.
ETH Price Under Pressure
Despite the accumulation trend, ETH has pulled back 10% from its 2025 high. After recovering from $4,250 to $4,380, it has once again slipped below $4,300. A break below current support could trigger a further drop below $4,000.
