BitMine Expands Ethereum Treasury to $11.1 Billion Amid Market Slump
Led by Chairman Tom Lee, the NYSE-listed company continues its accumulation strategy while seeking inclusion in the Russell 1000 Index.
BitMine, an Ethereum treasury company listed on the New York Stock Exchange, has acquired an additional 60,000 Ethereum (ETH) over the past week. The purchase, valued at approximately $126 million, brings the firm’s total holdings to 5.2 million ETH, which is currently worth around $11.1 billion based on prevailing market prices.
The acquisition occurred while the price of Ethereum was trading near $2,000, a level that represents a decline of approximately 60% from its record high of $4,953 reached in August 2025. As of the latest reporting, Ethereum was trading at $2,137.89.
BitMine’s continued accumulation aligns with the investment thesis of Chairman Tom Lee, who has previously identified Ethereum prices below $2,200 as an attractive entry point for the digital asset. The firm has maintained a steady pace of buying despite the significant downturn in the cryptocurrency’s valuation since its peak.
The news comes as BitMine, trading under the ticker BMNR, was named to the preliminary list of companies being considered for inclusion in the Russell 1000 Index for June. The index tracks the 1,000 largest publicly traded U.S. companies by market capitalisation, and inclusion would mandate that exchange-traded funds and mutual funds tracking the benchmark purchase the stock.
Despite the strategic expansion of its crypto treasury, BitMine’s shares have faced headwinds, declining 40% year-to-date to trade at $18.88 per share. The potential addition to the Russell 1000 could serve as a catalyst for institutional demand, though the inclusion remains on a preliminary list and is not yet confirmed.
