BitMine Immersion Technologies purchased $200 million worth of Ether on Wednesday. With this transaction, the company increased its holdings to more than 2.1 million ETH. The value of these reserves now amounts to approximately $9.2 billion.
The purchases were made via three transactions processed through the crypto service provider Bitgo. This further extends BitMine’s lead as the largest Ethereum treasury holder.
The company had already acquired 202,500 Ether earlier this week. Combined, this marks one of the largest ETH increases in a few days announced by a publicly traded company to date.
For comparison, the second-place company, Sharplink Gaming, currently holds approximately 837,000 ETH ($3.7 billion). This is more than double BitMine’s holdings.
With these recent purchases, BitMine joins a trend that highlights the strategic buildup of Ethereum reserves by institutional investors. The company was previously primarily known for its mining activities and has significantly expanded its treasury strategy in recent months.
According to the company, the purchases were financed through profits from ongoing operations.
Find out which are the five largest Ethereum treasuries and how investors can indirectly invest in ETH with leverage here: These are the 5 largest Ethereum treasury companies in 2025
The Ether price reacted with a price increase of three percent. The second-largest cryptocurrency is currently trading at $4,450.