BitMine’s medium-term objective is nothing less than to own and stake 5% of all circulating Ethereum as part of its new treasury reserve strategy. By overtaking SharpLink Gaming, which now holds roughly 438,000 ETH (valued near $1.6 billion), BitMine has surged to the top of the global Ethereum treasury leaderboard. The rapid build-up has also sparked rallies in BitMine’s stock price, helped by heavyweight backers including Peter Thiel and Cathie Wood.
Ethereum’s bullish momentum shows no sign of slowing. July saw net inflows of $5 billion into spot Ethereum ETFs—the highest monthly tally since their launch. Ethereum ETFs now oversee approximately $21.5 billion in assets, maintaining their role as premier investment vehicles alongside Bitcoin ETFs, which total around $61 billion.
ETH trades near $3,600 with a market cap of roughly $436 billion, securing its spot as the world’s second-most valuable crypto asset after Bitcoin. By company size, Ethereum’s market cap would rank 22nd globally, ahead of giants like Bank of America, Samsung, and Coca-Cola.
Based in Las Vegas, Nevada, BitMine was founded in 2019 and operates advanced data centers utilizing immersion cooling—deploying ASIC miners in thermally optimized liquid baths for superior efficiency and hardware lifespan. While the company previously focused on traditional Bitcoin mining and hosting, its pivot in June 2025 marks a strategic shift to building one of the most ambitious Ethereum treasuries in the industry.