Ethereum Treasury Companies Go Head To Head As Bitmine Dwarfs SharpLink — Details | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Corporate competition for ETH dominance is heating up, as Bitmine, a blockchain technology company, has just surpassed SharpLink Gaming to claim the top spot in the Ethereum treasury race. Both companies are already accelerating their accumulation strategies, signaling a new era where ETH is becoming a centerpiece for corporate treasuries

Bitmine Overtakes SharpLink In Ethereum Treasury Race

The race to dominate corporate Ethereum treasuries has entered unprecedented territory. Bitmine now holds a record-breaking 1.2 million ETH, worth nearly $4.9 billion, cementing the company’s position as the largest corporate Ethereum holder in history

Related Reading: Are Ethereum Treasury Companies A Threat To Bitcoin? Michael Saylor Reveals His StanceBitmine’s accumulation milestone marks the first time any firm has crossed the 1 million Ethereum reserve threshold, underscoring the speed and intensity of its acquisition strategy. The company’s meteoric rise in Ethereum ownership came in just over a month, skyrocketing from 163,000 ETH to more than a million. The recent surge in ETH purchases also coincides with a broader wave of corporate FOMO, as firms scramble to secure prominent positions ahead of anticipated rate cuts and a potential ETH price breakout

Source: Borovik from XNotably, Bitmine’s daily stock trading volume has surpassed $2.2 billion, ranking it as the 25th most liquid US stock, up from the 42nd position just a week prior. Moreover, the crypto company recorded an impressive $9.27 billion increase in trading volume on Monday, making it the 7th highest in the entire US market

Meanwhile, SharpLink Gaming sits firmly in second place amongst all Ethereum treasury companies. The Nasdaq-listed company now holds 604,026 ETH, worth approximately $2.69 billion. The firm has been steadily growing its treasury, recently acquiring 5,226 ETH for $23.1 million, according to Lookonchain

Although SharpLink’s ETH accumulation is significant—outpacing big players like the Ether Machine, Ethereum Foundation, and others—it remains eclipsed by the sheer scale and pace of Bitmine’s buying spree. Bitmine’s total ETH holdings currently dwarf SharpLink’s by 595,974

Corporate Roadmap For ETH Expansion

Bitmine’s Ethereum ambitions extend far beyond its current holdings. The company has recently filed to raise $20 billion in common stock, with plans to use the proceeds to acquire as much as 4.5 million additional ETH. If successful, the blockchain company could control over 5% of ETH’s total supply—an unprecedented concentration for a single corporate entity. Alongside accumulation, Bitmine is also reportedly staking ETH, aiming to transform its treasury into a yield-generating asset

Related Reading: Ethereum Exchange Reserves Just Hit A New 9-Year Low Amid Treasury AccumulationsSharpLink, while smaller in current holdings, is executing a deliberate and well-financed strategy. After announcing a $400 million registered direct offering agreement led by global institutional investors, the company aims to expand its Ethereum treasury well beyond $2.69 billion in value. The firm has also shared its long-term treasury vision, emphasizing its commitment to continue accumulating, staking, and growing its Ethereum reserves while making the cryptocurrency a cornerstone of its corporate balance sheets.

ETH trading at $4,702 on the 1D chart | Source: ETHUSDT on Tradingview.comFeatured image from Getty Images, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.