Some of the links on this site may be affiliate links. ICOBench may receive advertising commissions when users visit recommended platforms via our affiliate links, at no additional cost to you. All recommendations are based on a comprehensive review process. 
Bitcoin mining company BitMine Immersion announced that its Ethereum (ETH) holdings have surpassed 833,000 ETH, making it the largest corporate holder of Ethereum in the world.
The company launched an aggressive Ethereum treasury strategy on June 30, 2025.
In just 35 days, its Ethereum-related crypto assets reached a value equivalent to $2.9 billion. As a result, BitMine Immersion has become the third-largest corporate cryptocurrency holder globally.
JUST IN: 🇺🇸 Publicly traded Bitmine Immersion buys another 208,137 $ETH worth $757.5 million. pic.twitter.com/xp0G1vKptz
— Whale Insider (@WhaleInsider) August 4, 2025
Strategic Shift from Mining to Staking
The bold strategic pivot by BitMine Immersion was driven by changes in its revenue structure.
When Ethereum transitioned to Proof of Stake (PoS) in 2022, mining opportunities disappeared. In its place staking became the primary method for earning income.
Bitcoin (BTC) mining has seen intensifying competition for capital investment, driving costs higher.
In contrast, Ethereum staking offers the potential for higher returns at lower operational costs. This profitability boost motivated BitMine Immersion’s strategic move.
Market conditions also provided tailwinds. In 2025, Ethereum’s price reached $3,600, and the surge in value fueled greater demand for staking rewards.
The strategy was spearheaded by the company’s board of directors, led by Fundstrat’s chairman Thomas Lee, who stated, “Our goal is to achieve a 5% alchemy through efficient Ethereum accumulation.”
Market Excitement and Future Outlook
The speed of BitMine Immersion’s strategy execution is unprecedented. Its Ethereum holdings surged from zero to 833,000 ETH in just one month. This move has had a significant impact on the stock market.
BitMine Immersion shares are now among the most actively traded in the U.S. Average daily trading volume exceeds $1.6 billion, surpassing ride-hailing giant Uber and ranking 42nd nationwide.
Unlike traditional mining companies, BitMine Immersion has made staking the core of its business. This reflects the industry-wide shift toward cleaner and less resource-intensive business models.
The company’s success demonstrates a major trend in the cryptocurrency sector—strategies focused on profitability are increasingly shifting toward Proof of Stake.
