• Bitmine added $69 million in Ethereum to its treasury using Galaxy Digital’s OTC trading desk.
• Bitmine holds nearly 2% of Ethereum’s supply with a portfolio valued at $8.66 billion.
• Corporate Ethereum holdings have reached 4.99 million ETH as institutional interest in ETH continues to rise.

Bitmine has added $69 million worth of Ethereum (ETH) to its treasury in a single coordinated transaction. The purchase was made through Galaxy Digital’s over-the-counter (OTC) desk. Blockchain records show the transfer of 15,427 ETH across four transactions within an hour.

These consisted of 3,247 ETH, 3,258 ETH, 4,494 ETH, and 4,428 ETH. The settlements ranged between $14 million and $20 million. The precise timing and size of these transfers indicate coordinated OTC execution. This strategy allows large buyers to avoid price disruptions in open markets.

Bitmine’s total Ethereum holdings stand at around 1.95 million ETH. At current valuations, that equates to roughly $8.66 billion. Data from Arkham confirms these updated figures.

Ethereum Dominates Bitmine’s Portfolio

Ethereum continues to dominate Bitmine’s digital asset holdings. Nearly 100% of the firm’s portfolio is composed of ETH. Other assets in its treasury include small amounts of MakerDAO’s MKR and several minor experimental tokens.

These tokens have little market impact or financial value. In contrast, ETH forms the backbone of Bitmine’s investment strategy. The company’s approach mirrors earlier trends seen in corporate Bitcoin strategies.

With 1.95 million ETH, Bitmine controls around 2% of Ethereum’s total circulating supply. This makes it the single largest corporate holder of ETH. The company has been increasing its position steadily over the past several weeks.

Rapid Treasury Growth in September

On September 11, Bitmine received 46,255 ETH, valued at approximately $201 million, from a BitGo wallet. A week earlier, on September 4, it added 80,325 ETH worth $358 million. Moreover, it also added $65.3 million worth of ETH to its holdings, bringing the total value of its 1,881,639 ETH to $8.5 billion. These transactions also involved Galaxy Digital and FalconX.

The rapid accumulation has pushed Bitmine’s total to over 2.15 million ETH at peak value. This figure represents about 1.8% of Ethereum’s supply. It places the firm well ahead of other corporate holders.

SharpLink Gaming holds 838,000 ETH, while The Ether Machine owns 495,000 ETH. The Ethereum Foundation, by comparison, holds only 225,000 ETH. Coinbase’s treasury has 136,800 ETH.

Rising Corporate Interest in Ethereum Treasuries

Bitmine’s expansion reflects a broader trend among institutional investors. Corporate ETH treasuries now hold about 4.99 million ETH. This is worth approximately $22.2 billion and represents 4.13% of Ethereum’s supply.

The Ether Machine recently filed a draft registration with the SEC. The firm plans to go public via a merger with Dynamix Corporation. It added 15,000 ETH in August, bringing its holdings to 495,362 ETH.

SharpLink Gaming is also active in the market. It repurchased 1 million shares at an average of $16.67. The firm has no outstanding debt and reported net assets of $3.86 billion. ETH continues to trade lower, but corporate accumulation remains strong.