Ethereum News Today: Ethereum's Alchemy: Why Capital Is Shifting From Bitcoin To The Next Big Bet

BitMine Immersion Technologies, a publicly traded company focused on accumulating Bitcoin (BTC) and Ethereum (ETH) for long-term investment, has significantly expanded its Ethereum holdings. As of August 17, 2025, the company's crypto treasury includes 1,523,373 ETH tokens valued at approximately $6.6 billion, placing it as the largest Ethereum treasury in the world and the second-largest crypto treasury globally behind Strategy Inc (MSTR), which holds $74 billion in Bitcoin [1]. BitMine's Ethereum holdings have grown by nearly 32% in the past week, with the company adding $1.7 billion in ETH to its portfolio [2]. This growth is attributed to the company's "alchemy of 5%" strategy, a goal to acquire 5% of the circulating Ethereum supply, supported by institutional investors such as ARK's Cathie Wood, Pantera, and Galaxy Digital [3].

BitMine’s accumulation of ETH has been fueled by both institutional and corporate interest in Ethereum’s potential as the backbone for modern financial and AI-driven systems. According to BitMine Chairman Thomas Lee, the company is leveraging Ethereum's growing role in blockchain-based finance and AI to drive long-term value for shareholders [3]. The company's stock has also shown robust trading activity, with an average daily trading volume of $6.4 billion, placing it among the top 10 most liquid stocks in the U.S. [1]. This liquidity has contributed to BitMine's appeal as a vehicle for institutional exposure to Ethereum.

Ethereum's recent price performance has mirrored the interest in its adoption and infrastructure development. The price of ETH has risen sharply since early May, increasing by 139% to $4,332 from $1,812 following the Pectra upgrade [3]. The upgrade introduced new validator upgrades for staking and enhanced data throughput for layer-2 transactions, contributing to Ethereum’s appeal among institutional investors. This growth has been further supported by the launch of Ethereum-focused exchange-traded funds (ETFs), which saw $17 billion in trading volume last week, according to Bloomberg ETP analyst Eric Balchunas [3].

In parallel with BitMine’s efforts, a significant Bitcoin whale recently shifted its strategy by selling a substantial portion of its BTC holdings to accumulate ETH. The whale sold 670 BTC for $76 million and used those funds to open leveraged long positions in ETH, totaling 68,130 tokens [4]. This whale had previously held over 14,000 BTC worth more than $1.6 billion for seven years, acquired from exchanges like Binance and HTX. The move came as Bitcoin hit a new all-time high of $124,128 and ETH neared its 2021 record high of $4,878. The whale's ETH positions, however, have faced volatility, with the price dropping to $4,080 and three of the four positions nearly reaching liquidation levels [4]. Despite these challenges, the whale's decision reflects a broader trend of capital rotation from Bitcoin to Ethereum, particularly among investors seeking higher growth potential.

The trend is not limited to individual whale activity. SharpLink Gaming, another major ETH treasury company, and institutional wallets have also been accumulating Ethereum during market dips [3]. Additionally, BitMine plans to raise $24.5 billion through an at-the-market stock sale to further expand its ETH holdings, while SharpLink has raised $389 million for the same purpose [3]. These capital-raising efforts underscore Ethereum's growing institutional appeal and highlight the competitive landscape among corporate treasuries seeking to capitalize on the asset’s upside potential.

Ethereum’s increasing adoption is also being recognized by major financial institutions. Standard Chartered recently raised its ETH price forecast to $7,500 for 2025 from $4,000, citing heightened institutional buying and regulatory clarity in the U.S. [3]. The renewed interest in Ethereum has also sparked discussions about a potential "DeFi Summer 2.0," as corporate treasuries and institutional investors continue to build exposure to the ecosystem [3].

Source:

[1] BitMine Immersion (BMNR) is the 1 ETH treasury in the world (https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-is-the-1-eth-treasury-in-the-world-now-2nd-largest-crypto-treasury-globally-and-the-10th-most-liquid-us-stock-trading-6-4-billion-per-day-on-average-302531968.html)

[2] Ether Treasury News: Bitmine's (BMNR) ETH Holdings Top $6.6B (https://www.coindesk.com/business/2025/08/18/bitmine-s-ether-holdings-top-usd6-6b-stock-slides-7-alongside-eth-s-tumble)

[3] BitMine ETH holdings reach $6.6B as share price tumbles (https://cointelegraph.com/news/bitmine-eth-holdings-reach-6-6b-share-price-tumbles)

[4] Bitcoin Whale Shifts to ETH With $295 Million Long Position (https://cointelegraph.com/news/bitcoin-whale-dumps-btc-for-295m-eth-long-position)