BitMine Surpasses 5 Million ETH in Treasury Holdings as Institutional Adoption Grows
BitMine Immersion Technologies has significantly expanded its Ethereum (ETH) treasury, reaching a total of 5.96 million ETH as of September 14. This represents approximately 4.9% of Ethereum's reported supply and is valued at around $15 billion based on the company's September 13 reference price.
The update places BitMine close to its stated goal of holding 5% of Ethereum's supply, according to The Block. This development marks a significant milestone in the institutional adoption of Ethereum, with corporate treasury strategies becoming an increasingly important aspect of the market.
Deutsche Bank has also announced plans to launch a regulated digital-asset custody service for corporate and institutional clients in Europe, which will support Ether from its initial rollout. The bank's planned custody service includes features such as hardware-based key protection, multi-person approvals, and separate warm and cold storage environments.