Ethereum News Today: BitMine Targets 5% Ethereum Staking With $2.1B ETH Hoard, Surges 3,000%

BitMine Immersion Technologies has rapidly accumulated over $2.1 billion in Ether (ETH), positioning itself as the largest corporate holder of the cryptocurrency with a target to stake up to 5% of the total Ether supply. This ambitious strategy surpasses existing major stakeholders such as SharpLink Gaming and the Ethereum Foundation, marking a strategic shift in institutional cryptocurrency treasury management. Tom Lee, BitMine’s chairman, confirmed the company is “well on our way” to achieving the 5% threshold, which currently equates to approximately 6 million ETH and a valuation of $22 billion at current market prices [1]. The firm’s 16-day acquisition of 566,776 ETH underscores its aggressive positioning in the Ethereum ecosystem [1].

The move highlights Ether’s dynamic supply characteristics, influenced by Ethereum’s EIP-1559 burn mechanism and network activity. BitMine’s stake, if realized, could significantly impact Ethereum’s liquidity and network security dynamics. This contrasts with Bitcoin’s fixed supply model, where the largest corporate holder—Michael Saylor’s Strategy—controls 2.9% of the 21 million BTC supply. BitMine’s 0.46% current stake in Ether already outpaces SharpLink Gaming’s 360,807 ETH holdings, which the latter expanded in late May [1].

Market reactions to BitMine’s strategy have been swift. Its stock (BMNR) surged over 3,000% to $135 following the announcement, while SharpLink Gaming’s shares (SBET) rose 171% to $79.21 after a similar pivot to Ether. These gains reflect growing institutional confidence in Ether as a treasury asset, with analysts noting its evolving role beyond transactional use. BitMine’s stock further climbed 7% to $42 after launching options trading on the New York Stock Exchange, offering investors hedging and speculation tools [1].

The broader corporate Ether landscape shows BitMine now controlling a significant portion of strategic reserves. Collectively, 61 entities hold 2.31 million ETH—1.91% of the total supply. In comparison, Bitcoin’s corporate treasury ecosystem includes 206 firms holding 3.4 million BTC, or 16.5% of its total supply. BitMine’s rapid accumulation signals a shift in institutional capital toward Ethereum, potentially reshaping competitive dynamics between the two leading cryptocurrencies [1].

BitMine’s strategy is backed by institutional support, including a $170 million investment from Ark Invest and a $250 million funding round that increased its ETH holdings to over $1 billion. Cathie Wood, CEO of Ark Invest, has publicly endorsed the company’s role in advancing decentralized finance and on-chain capital markets. This backing aligns with Ethereum’s transition to a proof-of-stake model, which rewards stakers for securing the network [1].

The firm’s transparency in reporting holdings and strategic moves, including the NYSE options listing, reinforces its credibility in a nascent sector. However, achieving the 5% target remains contingent on sustained market participation, favorable price conditions, and potential regulatory or protocol changes. Ethereum’s validator exit queue and gas limit adjustments, reported in July, reflect ongoing network optimization efforts that could benefit long-term stakers like BitMine [5].

BitMine’s actions have sparked mixed market reactions. While its stock price surged, broader crypto indices experienced volatility, with ether rising 4% post-announcement. This contrast illustrates the sector’s inherent risk profile, where individual projects can outperform macro trends [7]. The company’s disciplined accumulation strategy and institutional partnerships position it as a key player in the evolving crypto treasury landscape, with implications for Ethereum’s supply dynamics and institutional adoption.

Source: [1] [BitMine Immersion Aims to Stake 5% of Ethereum’s Supply](https://cryptoslate.com/bitmine-immersion-aims-to-stake-5-of-ethereums-supply-as-holdings-exceed-2-billion/) [2] [BitMine Begins Options Trading on NYSE](https://defi-planet.com/2025/07/bitmine-begins-options-trading-on-nyse-as-it-targets-5-of-ethereum-supply/) [5] [The Protocol: Ethereum Validator Exit Queue Backs Up](https://sg.finance.yahoo.com/news/protocol-ethereum-validator-exit-queue-182336889.html) [7] [Ether Surges 4% as ETH Treasury Firm BitMine Steps Up Bid](https://www.coinbase.com/en-in/price/ethereum)