Bitmine Immersion Technologies (BMNR) announced on October 14, 2025, that its Ethereum holdings have exceeded 3 million ETH, solidifying its position as the largest corporate holder of Ethereum. The company took advantage of a recent dip in the cryptocurrency market to purchase an additional 202,037 ETH for approximately $827 million. This acquisition brings Bitmine's total holdings to 3,032,188 ETH, which accounts for over 2.5% of Ethereum's total circulating supply. The company stated it is now halfway to its strategic goal of owning 5% of the total ETH supply. Following the announcement, BMNR's stock saw a positive reaction in the market, with one report indicating a rise of approximately 6.8% in early trading. However, the stock has also experienced volatility, reportedly under pressure from a short position taken by Kerrisdale Capital, which has criticized the company's business model.