In a bold strategic move, BitMine Immersion Technologies has purchased over $2 billion worth of Ethereum (ETH) in just over two weeks, rapidly becoming the largest corporate holder of Ether. The acquisition highlights rising institutional interest in Ethereum as a long-term treasury reserve.
BitMine Targets 5% of Ethereum Supply
BitMine confirmed it acquired 566,776 ETH, valued at more than $2.03 billion, over the past 16 days. The firm aims to acquire and stake at least 5% of Ethereumâs total circulating supply, which equates to approximately 6 million ETH.
This would require an investment exceeding $22 billion at current prices, giving BitMine a dominant footprint in the Ethereum ecosystem.
According to their board chairman, the goal is not just accumulation but also staking, positioning the company to earn passive income while strengthening Ethereum’s network security.
https://cointelegraph.com/news/bitmine-is-largest-ether-holder-after-16-day-blitz
BitMine Tops Corporate Ether Holdings
Following this aggressive buying spree, BitMine has now surpassed all competitors in corporate Ether reserves, including:
- SharpLink Gaming with 360,807 ETH
- Ethereum Foundation holding around 237,500 ETH
BitMine is now the largest Ether treasury entity, flipping SharpLink Gaming to regain the top spot.
The move underscores an escalating corporate arms race for ETH, driven by its staking yields and the networkâs deflationary mechanics under EIP-1559.
ETH Supply Structure Makes the Race Unique
Unlike Bitcoinâs capped 21 million supply, Ethereumâs supply is dynamic, depending on issuance and burn rates. This makes the pursuit of percentage ownership of ETH supply more complex â but also more competitive.
If BitMine achieves its goal, it would own a larger share of Ether than Michael Saylorâs firm holds of Bitcoin, which currently stands at 2.9% of the BTC supply.
Stock Surge Reflects Investor Confidence
Both BitMine and SharpLink Gaming have seen dramatic stock price increases following their ETH accumulation strategies:
- BitMine shares surged over 3,000%, hitting $135
- SharpLink shares jumped 171% to $79.21
These moves suggest that investors view Ethereum reserves as a powerful corporate asset with long-term upside potential.
Strategic Ether Holdings Reach $8.4B
Currently, over 2.3 million ETH â valued at $8.46 billion â is held by 61 different strategic entities, representing 1.91% of total ETH supply. As Ethereum continues to mature, corporate treasuries may play a defining role in ETH’s next growth phase.
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.