BitMine Hits 1.52M ETH as Shares Dive 14% in a Week

- BitMine Immersion Technologies boosts its ETH treasury to 1.52 million tokens, valued at $6.6 billion. - Share price drops 14.2% in one week despite continued accumulation. On August 18, 2025, Cointelegraph, The Block, and Investing.com reported that BitMine Immersion Technologies, already the largest corporate holder of Ethereum (ETH), has significantly increased its holdings to 1.52 million tokens, valued at approximately $6.6 billion. This acquisition is part of BitMine’s “alchemy of 5%” strategy, which aims to secure 5% of Ethereum's total circulating supply amid rising institutional interest. Despite this substantial increase to its Ethereum treasury, BitMine’s share price fell 14.2% over the past week, with the decline reportedly starting on August 11. The company, however, remains the largest corporate holder of Ethereum and continues its aggressive ETH accumulation to solidify its market position. This growth reflects a broader corporate trend of adopting Ethereum as a treasury reserve asset. SharpLink Gaming, the second-largest institutional holder, currently owns 728,804 ETH and has staked nearly 100% of its holdings. Like BitMine, SharpLink actively raises capital to expand its Ethereum treasury, most recently securing $2.6 billion for further acquisitions. Together, these firms show growing institutional interest in Ethereum as they compete to strengthen their market positions. Meanwhile, market data from Investing.com shows Ethereum (ETH) trading at $4,344.53 as of 18:08 UTC on August 18, with its 24-hour trading volume down 3.97%.