BitMine Immersion Technologies has added another 23,823 ETH worth $103.7 million to its corporate treasury, according to online analytics.

Following the data by Arkham Intelligence and Lookonchain, the company received the asset from the BitGo wallet using the address “0xF8c…338E7”. Although the wallet itself is not marked in the Arkham Intelligence database, Lookonchain analysts identified it as belonging to BitMine.

The company has not yet officially confirmed the acquisition.

At the time of writing, BitMine owns 2.83 million ETH, which is equivalent to approximately $12.4 billion. This makes it the largest corporate owner of Ethereum and the second largest crypto holder in the world, behind only Strategy, led by Michael Saylor.

The company is led by Tom Lee, co-founder of Fundstrat Global Advisors. BitMine has repeatedly stated that it aims to accumulate 5% of the total supply of Ethereum and supports the expansion of its role in global financial services.

As early as August 2025, BitMine’s Ethereum reserves exceeded 1 million ETH, and its shares became one of the most liquid in the US. The new acquisition confirms the continuation of an aggressive acquisition strategy that has already made the company a leader among corporate Ethereum investors.

At the same time, SharpLink Gaming, another corporate owner of the second-largest cryptocurrency by capitalization, launched its own accumulation strategy on 2 June this year. Since then, the company’s unrealized profit has exceeded $900 million, and its reserves have reached more than 839,000 ETH. At the same time, SharpLink has no debt obligations.

According to CryptoQuant, the Ethereum network is currently in the most powerful cycle of its development. The analysts note that institutional demand, staking, and online activity have reached historic highs.