Ethereum News Today: Corporate Ethereum Frenzy: Could One Firm Control 5% of ETH Supply?

BitMine, an Ethereum-focused digital asset treasury firm, has increased its holdings of ether to 1.52 million tokens, valued at approximately $6.6 billion, according to a recent SEC filing. The company, which operates as BitMine Immersion Technologies (BMNR), is now the second-largest corporate holder of cryptocurrency in the United States, trailing only MicroStrategy (MSTR), which holds $72 billion in bitcoin. BitMine is distinct in that it focuses exclusively on Ethereum rather than bitcoin [1].

The firm’s rapid accumulation has been part of a broader trend where corporate treasuries are increasingly allocating significant portions of their portfolios to ether. BitMine’s strategy, led by Fundstrat’s Tom Lee, has seen the company surge from 163,000 ETH to over a million in less than a month. This aggressive buy spree has been accompanied by a significant increase in its stock trading volume, which has surpassed $2.2 billion, placing the company among the most liquid stocks in the U.S. [2].

BitMine’s Ethereum holdings now make up a substantial portion of the cryptocurrency’s total supply. If the company fulfills its recent plan to raise $20 billion in common stock, it could acquire up to 4.5 million additional ETH, potentially controlling over 5% of the total supply. This would represent a significant concentration of Ethereum in a single corporate entity, a move that could impact both the market dynamics of ETH and the broader perception of corporate investment in crypto assets [1].

Meanwhile, rival Ethereum treasury firm SharpLink Gaming (SBET) has also been aggressively accumulating ETH. As of the latest data, SharpLink holds 604,026 ETH, worth approximately $2.69 billion, placing it second among corporate Ethereum holders. The firm recently acquired 5,226 ETH for $23.1 million, according to on-chain analytics firm Lookonchain. While SharpLink’s strategy is more measured compared to BitMine’s, it has announced its own fundraising efforts, including a $400 million direct offering led by institutional investors [2].

The rise of corporate Ethereum treasuries has also led to increased market volatility, as seen in the recent price action of ETH. The token has pulled back from near record highs, dropping below $4,300 in the wake of BitMine’s stock decline of 7%. Other Ethereum-focused companies have similarly seen their shares fall, reflecting a broader market correction amid shifting investor sentiment. This trend highlights the growing influence of corporate treasury strategies on crypto prices and market liquidity [1].

Corporate ownership of Ethereum is now a key factor in the cryptocurrency’s ecosystem, with firms like BitMine and SharpLink playing a central role in shaping its future. As the competition for ETH dominance intensifies, the market will likely continue to see significant price fluctuations and strategic maneuvers from major players aiming to secure long-term positions in the digital asset [2].

Source: [1] Ether Treasury News: Bitmine's (BMNR) ETH Holdings Top (https://www.coindesk.com/business/2025/08/18/bitmine-s-ether-holdings-top-usd6-6b-stock-slides-7-alongside-eth-s-tumble) [2] Ethereum Treasury Companies Go Head To (https://bitcoinist.com/ethereum-treasury-companies-2/)