The trend of corporate accumulation of ether (ETH), the cryptocurrency of the Ethereum network, is in full swing, with companies acquiring ETH en masse.
Currently, institutional holdings of ETH exceed 2.31 million units, equivalent to $8.51 billion at the current market price. This amount is held by 61 entities, according to data from the Strategic ETH Reserve portal.
BitMine Immersion Technologies announced this Thursday the acquisition of 566,776 ETH, valued at $2.09 billion. The company closed a $250 million private placement on July 8 and, just 16 days later, reached its partial goal of surpassing $2 billion in ETH in custody. The purchase was confirmed on July 23 at 11:59 p.m. ET, at an average price of $3,643.75 per unit.
With this transaction, BitMine positions itself as the largest institutional holder of ETH, surpassing SharpLink Gaming, which holds 360,800 ETH in its treasury, valued at approximately $1.33 billion. Behind both companies is the Ethereum Foundation, with a total of 237,500 ETH, equivalent to $875 million.
The following image shows the top 5 corporate entities that accumulate the most ether:
BitMine is the leading corporate ETH accumulation company. Source: Strategic ETH Reserve.
Thomas Lee, chairman of the BitMine board and a Fundstrat representative, stated that the company is on track to achieve its goal of acquiring and holding 5% of the total ETH supply. The strategy includes reinvesting cash flows, leveraging capital markets to capitalize on volatility, staking yields, and asset valuation.
BitMine CEO Jonathan Bates noted that the company remains committed to growing the Ethereum ecosystem and will continue its focus on digital asset treasury. This model, described as an "asset-light" strategy, seeks operational efficiency and progressive ETH accumulation.
Both BitMine and SharpLink Gaming have been key figures in the corporate movement toward Ethereum adoption. Both companies significantly exceed the reserves of the network's founding organization, marking a symbolic leadership shift in ETH's "economic governance."
This phenomenon coincides with the rise of bullish expectations for Ether. Analysts such as Eric Jackson and Arthur Hayes have projected that the price of ETH could reach $10,000 before the end of the year. Meanwhile, Gert van Lagen has suggested that the asset could trade at up to $18,000 in the medium term.
