BitMine, SharpLink, and The Ether Machine Lead Institutional Accumulation
Corporate Ether (ETH) holdings have hit a record $13 billion, with total balances across treasury-holding companies now reaching 3.04 million ETH, according to data from Strategic ETH Reserve (SER). The milestone comes as ETH’s price rallied past $4,300, gaining 20.4% in the past week.
BitMine Immersion Technologies leads all corporate holders with 833,100 ETH, a 410.68% increase in its holdings over the past month. The stash, worth over $3.58 billion at current prices, makes BitMine the first company to hold more than $3 billion in ETH.
Following BitMine is SharpLink Gaming, with 521,900 ETH after adding 83,562 ETH last Tuesday — pushing the firm’s holdings to $2.23 billion. SER data shows SharpLink has over $671 million in unrealized gains from its Ether positions.
The Ether Machine ranks third, now holding 345,362 ETH valued at nearly $1.5 billion. The company boosted its treasury by over 25,000 ETH in August, including purchases on Ethereum’s 10th anniversary.
Together, these three companies account for more than half of the 2.63 million ETH held by the top 10 treasury entities — representing 2.63% of Ethereum’s total supply.
Broad-Based Corporate Accumulation
Beyond the top three, smaller treasury purchases have also been recorded. HashKey exchange disclosed last week that IVD Medical, a Hong Kong-listed company, acquired around $19 million in ETH — though the exact amount was not made public.
SER data shows 64 companies worldwide now hold ETH in their corporate treasuries, reflecting a broadening institutional interest in Ethereum as both a strategic reserve asset and a long-term investment.
With ETH trading near multi-year highs and institutional accumulation accelerating, analysts say corporate treasuries could become an even more influential force in Ethereum’s price trajectory heading into 2025.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.