BitMine Immersion Applied sciences highlighted Coinbase's acquisition of Ethereum in Q3 2025 as proof that ETH is a retailer of worth.
Yesterday, Coinbase launched its Q3 2025 earnings report, highlighting each robust monetary efficiency and vital progress in its crypto holdings.
Coinbase expands ETH holdings
One of many particulars that caught the eye of buyers was the big improve in Coinbase's Ethereum reserves. Notably, Coinbase collected roughly 12,000 ETH within the third quarter, rising its complete Ethereum holdings to 148,715 ETH as of September 30, 2025.
BitMine claims Ethereum’s retailer of worth story
After the acquisition, Bitmine identified by way of its official X account that Ethereum serves as a monetary asset for Coinbase. In BitMine's view, Coinbase doesn’t maintain Ethereum as a speculative token, however as a part of its treasury.
BitMine additional steered that Coinbase's constant quarterly ETH accumulation strengthens the view that Ethereum acts as a retailer of worth asset.
Whereas this designation has historically been restricted to Bitcoin, Bitcoin and different trade observers have lengthy argued that Ethereum additionally suits into this class, given its rising institutional adoption and long-term holding patterns.
ETH is a monetary asset of $COIN @coinbase
Trace; Extra proof that Ethereum is a retailer of worth https://t.co/lkJlzVo4Cj
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) October 31, 2025
BitMine ETH acquisition
Curiously, BitMine has additionally acquired Ethereum. The corporate makes use of the proceeds from the inventory issuance to buy vital quantities of ETH on an virtually weekly foundation. It goals to seize roughly 5% of Ethereum's provide.
In line with knowledge from Arkham Intelligence, BitMine at the moment holds roughly 3.16 million ETH (price $12.13 billion) in considered one of its wallets. This represents 2.61% of Ethereum's complete provide.
Bitmine Ethereum holdings
In the meantime, Lookonchain experiences that the corporate bought an extra 44,036 ETH throughout the latest market downturn. The acquisition, which was raised from BitGo and Kraken, was transferred to 2 newly created wallets earlier in the present day.
