Bitmine Immersion Technologies (BMNR) closed at $44.86 on September 3, posting a strong 5.58% increase. However, the stock dipped 1.38% in pre-market trading to $44.20 the next morning.
Bitmine Immersion Technologies (BMNR)
The company acquired $64.7 million in ETH through Galaxy Digital, marking its first September buy. Bitmine conducted six over-the-counter transactions, reflecting growing treasury allocation. This purchase follows months of steady crypto accumulation during a period of reduced exchange supply.
Arkham Intelligence data confirmed the transfer of 14,665 ETH via Galaxy’s OTC wallet address. This recent accumulation adds to Bitmine’s broader plan to reach 5% of Ethereum’s circulating supply. Bitmine has not formally announced the acquisition but blockchain data validates the movement.
Bitmine now holds over 1.75 million ETH, worth approximately $7.7 billion, according to Arkham. This gives the company control of nearly 1.44% of the current ETH supply. It remains the largest corporate Ether holder in the world.
In a recent update, a Bitmine spokesperson clarified that the company used only cash to buy ETH. The purchases were completed without any leverage or debt financing involved. This signals Bitmine’s confidence in Ethereum’s long-term role in digital finance.
Ether reserves across centralized exchanges have dropped to a three-year low. Since 2022, supply has decreased by 38%, driven by corporate treasury accumulation. Bitmine’s consistent buying strategy has directly contributed to this shift.
Bitmine’s aggressive posture comes as other treasury firms follow suit. SharpLink Gaming, the second-largest ETH holder, recently bought 39,008 ETH, bringing its total holdings to 837,000 ETH.
The Block reports that ETH-focused public firms now hold a combined 2.77 million ETH. Institutional demand for ETH continues to rise through both treasury strategies and ETF channels. This growing trend supports the broader case for Ethereum as a balance-sheet asset.
Bitmine continues to lead this wave, setting the pace in corporate digital asset management. While short-term market moves persist, its treasury allocation reflects a long-term outlook. With each acquisition, Bitmine strengthens its position in the evolving crypto financial ecosystem.
Bitmine emerged as a major player in 2024 by pivoting its business model toward digital asset management. Its immersion technology roots support low-cost crypto infrastructure. Now, the firm leads corporate participation in Ethereum.
Since Q2 2024, Bitmine has consistently expanded its ETH holdings. Its transparent cash-only purchase strategy builds credibility in a volatile asset class. The company’s positioning sets a benchmark in treasury crypto allocation.
Bitmine’s market impact continues to grow with every transaction. Its ETH strategy reflects a structured, long-term belief in Ethereum’s network and utility. As corporate treasuries shift, Bitmine remains at the center of that transformation.
The post Bitmine Immersion Technologies (BMNR) Stock: Surges Amid $65M ETH Acquisition and Treasury Expansion appeared first on CoinCentral.
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