BitMine Immersion Technologies has made another significant purchase of Ethereum, adding 23,823 ETH worth $103.7 million to its reserves. Analysts from Arkham Intelligence and Lookonchain recorded this transaction from the BitGo wallet to an address identified by Lookonchain as belonging to BitMine.
This is reported by Finway
BitMine Expands Crypto Assets and Leads in Corporate Investments
As of October 2025, BitMine owns 2.83 million ETH — approximately $12.4 billion, which grants the company the status of the largest corporate holder of Ethereum in the world. In this regard, it is second only to Strategy, led by Michael Saylor. In official statements, BitMine has repeatedly emphasized its goal of accumulating 5% of the total Ethereum supply and actively supports the expansion of this cryptocurrency’s role in global financial services. The company is led by Tom Lee, co-founder of Fundstrat Global Advisors.
“It can be said that Ethereum is solidifying its status as a global financial asset amid rising corporate demand.”
By August 2025, BitMine’s Ethereum reserves exceeded 1 million coins, and the company’s shares ranked among the most liquid in the American market. This new acquisition confirms the strategic direction of aggressive asset accumulation, allowing BitMine to establish itself as a leader among corporate ETH investors.
Corporate Demand for Ethereum is Growing
Alongside BitMine, SharpLink Gaming is also implementing its own strategy for accumulating Ethereum. Since June 2025, after launching its accumulation program, SharpLink’s unrealized profit from ETH has already surpassed $900 million, and total reserves have reached over 839,000 ETH. At the same time, SharpLink has no debt obligations, underscoring the company’s financial stability.
According to CryptoQuant, the Ethereum ecosystem is currently experiencing the strongest cycle in its history: institutional demand, staking, and on-chain activity have reached record levels. This further stimulates corporate players’ interest in accumulating ETH and strengthens Ethereum’s position as a key digital asset in the world of finance.