Key Highlights : BitMine raises ATM share sale limit to $24.5B to buy more Ethereum. Holds over 1.15 million ETH, first to exceed 1 million in corporate treasury. Plans to invest in Bitcoin, expand mining and consulting operations. BitMine Immersion Technologies (BitMine), the world’s largest corporate holder of Ethereum, has filed with the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market (ATM) share sale program by an additional $20 billion. This move will increase the share sale program’s limit from $4.5 billion to $24.5 billion, marking the third limit increase in the past month. Initially, on July 9, BitMine arranged a $2 billion share sale with Cantor Fitzgerald and ThinkEquity, followed by a limit raise to $4.5 billion on July 24, and now an increase by fivefold at once. Investment and Expansion Plans The funds raised will be primarily used to purchase additional Ethereum, invest in Bitcoin, and expand BitMine’s mining and consulting operations. At the time of the announcement, BitMine holds over 1.15 million ETH, valued at approximately $5 billion, becoming the first company to hold more than one million Ethereum tokens in its corporate treasury. Earlier this week, the company announced an additional purchase of 317,000 ETH. Market Perspectives and Leadership BitMine Chairman and Fundstrat Co-Founder Tom Lee told CNBC that Ethereum could be entering a “2017-like Bitcoin moment,” citing factors such as regulatory approval for stablecoins, SEC signals favoring blockchain-based financial instruments, and interest from major financial players like JPMorgan and Robinhood. “We may be on the threshold of the ‘Ethereum MicroStrategy’ era,” Lee said, predicting the asset’s price could reach $30,000 or more if these conditions persist. According to The Block, BitMine leads corporate Ethereum holdings, followed by SharpLink with 598,800 ETH and The Ether Machine with 345,400 ETH. The Ethereum Foundation holds 232,600 ETH, while Coinbase holds 136,800 ETH plus 11,776 BTC. At the time of writing, Ethereum, the second-largest cryptocurrency by market capitalization, trades at $4,678.45, according to TradingView.
