TORICO Co., Ltd.

Bitmine Immersion Technologies announced on August 31 that it acquired 53,501 ETH over the past week. This brings its holdings to 5,901,112 ETH, reaching 4.9% of Ethereum's total supply of 120.7 million ETH. This marks the 65th consecutive week of accumulation since purchases began in June 2025, reaching 98% of the target holding ratio of 5%. At a valuation of $2,511 per ETH, the total is approximately $14.8 billion (about 2.368 trillion yen). Decrypt calculated the acquisition cost at approximately $131 million (about 21 billion yen), reporting it as the largest purchase since June. The company's chairman, Tom Lee, noted that ETH outperformed the S&P 500 by 5,430 basis points in the third quarter, stating that crypto assets are significantly outperforming other macro assets, laying the groundwork for institutional investors to increase their crypto holdings. Treasury companies are also active: Strategy acquired 4,603 BTC for $369.7 million (about 59.152 billion yen) from August 24 to 30, bringing its holdings to 845,050 BTC. Strive also added 1,800 BTC, bringing its holdings to 23,156 BTC, rising to fifth place among listed companies. Bitmine is the world's largest ETH treasury and remains second overall in crypto treasuries after Strategy, but according to DropsTab data, its current unrealized loss is approximately $5.1 billion (about 816 billion yen). In Japan, TORICO also added 25.8642 ETH on the same day, August 31, bringing its total acquired quantity to 2,945.9375 ETH and total acquisition cost to 1.24582 billion yen. Although the scale is vastly different, the trend of accumulating ETH as a revenue-generating asset is also reaching Japan.

TORICO, which operates 'Manga Zenbu Dot Com' and is advancing an Ethereum (ETH) treasury strategy, announced on August 26 that it had acquired additional ETH. The previous day, August 25, it also disclosed an increase in purchases, marking the second consecutive day of announced purchases. The latest acquisition was approximately 56 ETH, with a purchase amount of about 22.1 million yen. This brings the cumulative holdings, including staking income, to approximately 2,895 ETH, with a total acquisition cost of about 1.2258 billion yen. According to the financial results materials released by the company on August 13, as of the end of the first quarter of the fiscal year ending March 2027 (end of June 2026), the valuation of approximately 2,773 ETH held was about 707.9 million yen, against an acquisition cost of about 1.17883 billion yen, resulting in an unrealized loss of approximately 470 million yen. In the recent cryptocurrency market, ETH has recovered to the 400,000 yen level. If the current cumulative holdings are calculated at 1 ETH = 400,000 yen, the latest valuation would be approximately 1.1578 billion yen. This would reduce the current unrealized loss against the total acquisition cost to about 68 million yen, an improvement of approximately 400 million yen from the end of the first quarter.