BitMine Immersion Technologies pushed its Ethereum holdings past the $10 billion mark this month, disclosing a $139 million addition to its treasury ahead of a planned preferred share trading debut. The company now holds more than 5.6 million ETH, one of the largest corporate crypto treasuries on record.
The size of the stash
At current market prices, the Ethereum pile is worth over $10 billion. The latest $139 million increase came shortly before BitMine began offering preferred shares — a move that lets the company raise capital without diluting common equity holders. The timing suggests the treasury expansion was at least partly tied to that fundraising structure.
BitMine is primarily a bitcoin miner, but it has been steadily stacking ether since late 2025. Holding more than 5.6 million ETH puts it in a league with a handful of institutional holders. The preferred share listing gives investors a way to bet on the company’s asset growth without direct crypto exposure.
What’s next
Preferred shares are expected to begin trading this week on an over-the-counter market. BitMine hasn’t said whether it plans further treasury additions, but the company’s recent pattern — large purchases before major corporate events — suggests more could come if the share sale hits its targets.
