BitMine Immersion Technologies has declared holding over 2.83 million ETH as of October 6, 2025. This represents more than 2% of the total Ethereum supply, positioning BitMine among the world's largest Ethereum treasuries. BitMine Immersion adds $821M in Ether, total holdings now $13.4B
Led by Thomas Lee, BitMine's strategy, named “Alchemy of 5%,” targets controlling up to 5% of ETH supply. This substantial acquisition marks a continued trend of institutional interest in digital assets.
Liquidity and Staking Flows Set to Shift
BitMine's significant ETH holding could affect liquidity and staking flows, with broader implications for institutional narratives. The firm's digital asset reserves now exceed $13.4 billion, including cash and Bitcoin, highlighting its robust financial positioning. BitMine Immersion boosts ETH holdings to $13.4B with new investment
Investors might anticipate shifts in ETH staking yields—currently between 3% and 5%—due to BitMine's involvement. This institutional movement into Ethereum treasuries can benefit DeFi systems, though exact impacts on trading volumes and TVL remain unspecified.
BitMine Mirrors Bitcoin Strategy with Largest ETH Treasury
This mirrors the corporate treasury trend seen with companies like MicroStrategy in relation to Bitcoin. BitMine now holds the largest public ETH treasury, paralleling past actions that heightened institutional focus on digital assets.
Experts, reflecting on past trends, suggest these large‑scale acquisitions often boost Ethereum's institutional asset status and DeFi ecosystems. The potential long‑term effects include increased institutional stakes and strengthened Ethereum‑based financial technologies. “Our strategic accumulation reflects a commitment to institutional‑grade holdings in Ethereum, aiming to harness the potential of digital assets.” — Thomas Lee, CEO, BitMine Immersion Technologies