In an unprecedented move that’s sending ripples across the cryptocurrency landscape, BitMine Immersion Technologies has emerged as a heavyweight player in the Ether space, now holding the title of the largest corporate holder of Ether. In an announcement made this Thursday, the company revealed that in a mere 16-day burst, it had amassed over $2 billion worth of ETH—a staggering 566,776 Ether. This aggressive accumulation strategy positions BitMine not just as a contender, but as a leader in the race to build strategic crypto treasuries.
What’s even more intriguing is BitMine’s ambitious plan to stake 5% of the total Ether supply, a target estimated at around $22 billion. To put this in perspective, that would equal approximately six million ETH. Such a move would make BitMine a formidable player, controlling a larger proportion of Ether than MicroStrategy holds in Bitcoin. Currently, MicroStrategy has 607,770 BTC, which represents only 2.9% of Bitcoin’s capped supply of 21 million.
But what does this mean for the crypto market? As corporate Ether treasuries rise, we are witnessing a concerted effort by companies like BitMine and SharpLink Gaming to secure significant amounts of Ether. SharpLink recently made headlines by purchasing 79,949 ETH, boosting its total holdings to 360,807 ETH, valued at around $1.3 billion. Meanwhile, the Ethereum Foundation ranks third among treasury holders with approximately 237,500 ETH.
two companies are buying ETH like CRAZY– Bitmine holds $2.12 billion in ETH– SharpLink holds $1.35 billion in ETHthe Ethereum Foundation is the 3rd largest holderETH IS GOING TO $20,000 THIS CYCLE! pic.twitter.com/cQxx7Y6MRG— borovik (@3orovik) July 24, 2025
This trend of accumulating Ether is not just a momentary blip; it has fueled spectacular price surges in the stock market as well. Following its Ether-centric pivot in early July, BitMine’s shares skyrocketed more than 3,000%, hitting $135. Similarly, SharpLink’s stock also saw a significant spike, soaring 171% to $79.21 after announcing its plans back in May. This meteoric rise underscores the growing optimism around Ether and corporate investments in crypto assets.
Despite this enthusiasm, some analysts voice caution regarding the sustainability of such corporate treasury strategies. According to crypto analyst Ran Neuner, many publicly traded companies appear to be acting more as ‘exit vehicles’ for crypto insiders rather than genuine buyers from the open market. This means that instead of directly purchasing cryptocurrencies, these entities might be receiving crypto contributions from existing holders in exchange for shares that often trade at inflated premiums on public markets.
The skepticism doesn’t stop there. Glassnode’s lead analyst, James Check, recently raised concerns about the long-term viability of the corporate treasury model for Bitcoin, suggesting that easy gains may be dwindling for latecomers as the crypto market matures. Such warnings reflect a broader anxiety around whether this aggressive accumulation model can be sustained in the ever-evolving landscape of cryptocurrency.
As the dust settles, one thing is clear: the rapid rise of BitMine and other corporate players is redefining the Ether treasury landscape. With significant investments being made and ambitious goals set, the future of ETH, and indeed the entire crypto market, looks both promising and complex.
As investors and enthusiasts, it will be fascinating to watch how this unfolds. Will we see Ether prices soar as corporate treasuries grow? Or will the challenges to this approach signal a shift in how institutional players engage with cryptocurrencies? Only time will tell, but staying informed is key. So, keep an eye on developments in the crypto world, as the next chapter in this thrilling narrative continues to unfold.
For those looking to dive deeper into cryptocurrency investments and the rising tide of corporate treasuries, consider exploring resources from reputable sources like CoinDesk or The Block.