Key Takeaways:
- BitMine acquired over $2 billion in ETH (566,776 ETH) in 16 days, becoming the top corporate holder of Ethereum.
- The company aims to own 5% of Ethereum’s total supply, targeting approximately 6 million ETH worth $22 billion.
- BitMine’s ETH pivot drove its stock price up 3,000%, while rival SharpLink Gaming also saw a 171% surge after a similar move.
BitMine Immersion Technologies has surged to the top of the corporate Ethereum leaderboard after acquiring 566,776 ETH worth over $2.03 billion in just 16 days.
The company’s chairman, Tom Lee, stated BitMine aims to acquire and stake 5% of Ethereum’s total supply – about 6 million ETH, currently valued near $22 billion.
JUST IN: BitMine ETH holdings surpass $2B just 16 days after closing a $250M private placement. pic.twitter.com/zclfw2mMrT
— ChainDesk (@ChainDesk_) July 25, 2025
This marks an aggressive shift toward Ethereum, outpacing major holders like SharpLink Gaming and the Ethereum Foundation.
The acquisition restores BitMine’s lead over SharpLink, which recently reported 360,807 ETH.
Both companies’ Ethereum strategies have fueled major stock rallies: BitMine’s BMNR soared over 3,000% to $135 before retreating, while SharpLink’s SBET jumped 171% after its ETH pivot in May.
Currently, 61 treasury entities collectively hold 2.31 million ETH, or roughly 1.91% of Ethereum’s supply, valued around $8.46 billion.
By comparison, 206 companies hold over 3.4 million BTC – 16.5% of Bitcoin’s supply – worth more than $408 billion.
BitMine’s Ethereum strategy draws parallels to Michael Saylor’s BTC accumulation at Strategy, though BitMine’s goal far exceeds Saylor’s 2.9% Bitcoin stake, signaling a bold institutional bet on Ethereum’s future.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
His articles offer a deep dive into the latest trends, projects, and technological advancements shaping the future of digital finance.
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