BitMine Immersion Technologies has become the first company to hold more than one million ether, disclosing on 11 Aug that its treasury reached 1.15 million ETH valued at roughly $4.96 billion. The position equals about 1 percent of Ethereum’s circulating supply and was built in just six weeks, according to company statements. To finance additional purchases, the Las Vegas-based firm filed on 12 Aug to enlarge its at-the-market stock-sale programme by $20 billion, lifting total capacity to $24.5 billion. BitMine said proceeds will be deployed to grow its Ethereum stake, echoing the playbook that Bitcoin-focused Strategy pioneered. BMNR shares, which trade about $2.2 billion a day and are backed by investors including Ark Invest, Founders Fund and Pantera Capital, have surged more than 1,000 percent since the treasury strategy began in late June. Fresh blockchain data show the company has kept buying. Between 15 and 16 Aug it added about 147,000 ether, bringing holdings to 1.297 million coins worth an estimated $5.75 billion. Chairman Tom Lee has said BitMine aims to accumulate up to 5 percent of all ether outstanding, a goal that would require roughly six million coins. The haul already makes the firm the world’s largest Ethereum treasury and the third-largest corporate crypto reserve after Strategy and MARA Holdings.