BitMine Goes All-In on ETH With $873M Purchase

• BitMine added 202,469 ETH worth $873 million and now holds $8.93 billion in Ethereum. 

• The company invested $20 million in Eightco Holding as part of its new “Moonshot” strategy linking AI and digital identity. 

• BitMine ranks as the 30th most traded US stock with $1.7 billion daily volume and remains the largest corporate Ethereum holder.

BitMine Immersion has significantly expanded its cryptocurrency portfolio by acquiring 202,469 ETH worth over $873 million. The acquisition brings the company’s total Ethereum treasury to 2.069 million tokens, valued at $8.93 billion with ETH trading above $4,300.

The company’s comprehensive crypto and liquid reserves now exceed $9.21 billion, including Bitcoin holdings and cash positions. This positions BitMine as the second-largest corporate crypto treasury globally, trailing only Strategy Inc., which maintains 636,505 Bitcoin valued at approximately $71 billion.

Strategic $20 Million Investment in Digital Identity Infrastructure

BitMine announced a $20 million investment in Eightco Holding, a Nasdaq-listed company trading under the OCTO ticker. This investment marks the launch of BitMine’s “Moonshot” strategy, allocating one percent of its balance sheet to ecosystem-strengthening initiatives.

Eightco has adopted Worldcoin as its primary treasury asset. Worldcoin operates as an ERC-20 token that establishes proof of humanity through zero-knowledge verification technology. The partnership aligns with BitMine’s broader vision of connecting Ethereum infrastructure to artificial intelligence and digital identity solutions.

Fundstrat Chairman Thomas Lee, who also chairs BitMine, emphasized Worldcoin’s verification system as crucial for AI platforms managing billions of user interactions. Lee positioned Ethereum as fundamental infrastructure for future digital identity and commerce applications.

Market Performance and Trading Momentum

BitMine’s recent $668 million Ethereum purchase demonstrates a continued commitment to accumulating the cryptocurrency. The company views Ethereum as one of the next decade’s most significant macro investment opportunities.

Trading activity for BitMine shares has reached exceptional levels, with average daily volumes of $1.7 billion in early September. This performance ranks the company 30th among all US equities, surpassing major corporations like Exxon Mobil and Costco while trailing Bank of America.

Institutional investors, including ARK’s Cathie Wood, Pantera, and Galaxy Digital, provide substantial backing for BitMine’s strategy. The company maintains its position as Ethereum’s largest corporate treasury holder.

Ethereum trades at $4,357, representing a 1.41% increase over 24 hours despite a 0.86% weekly decline. Monthly gains stand at 8.50%, with six-month growth reaching 126%. Year-to-date performance shows a 30.64% increase.

Lee connected BitMine’s accumulation strategy to broader macroeconomic trends, citing the convergence of Wall Street and AI on blockchain technology. He compared the current financial environment to the 1971 end of the gold standard, suggesting that regulatory developments like the GENIUS Act and the SEC’s Project Crypto could similarly transform financial markets.