Ethereum News Today: Ethereum Claims Corporate Treasury Crown as BitMine's $11.8B Stash Challenges Bitcoin's Dominance

BitMine, the investment firm co-founded by MicroStrategy's Tom Lee, has significantly expanded its Ethereum holdings, acquiring 17,242 additional ETH in the latest week, valued at $49.07 million at current prices. This brings the company's total ETH stash to 3,559,879 coins, representing 2.9% of the total Ethereum supply and solidifying its position as the world's largest corporate Ethereum treasury, according to data from StrategicETHReserve.xyz. The firm now holds $11.8 billion in a combined portfolio of crypto, cash, and speculative investments, including 192 Bitcoin and a $607 million cash reserve.

The move underscores a growing corporate trend of treating Ethereum as a strategic treasury asset. BitMine's purchases outpace MicroStrategy's Bitcoin accumulation efforts, positioning Ethereum as a key contender in the race for corporate crypto dominance. Analysts note that BitMine's aggressive buying aligns with broader market optimism about Ethereum's long-term utility, particularly as the network prepares for upcoming upgrades. "The crypto cycle peak is still 12–36 months away," BitMine's Lee recently stated, signaling continued demand for Ethereum as a store of value.

However, the broader crypto market remains volatile.

Over the past 24 hours, $1.03 billion in positions were liquidated, with Bitcoin and Ethereum both experiencing sharp declines. Ethereum briefly fell below $3,000 for the first time since July 2025, while Bitcoin dipped below $90,000 before rebounding. Over 70% of liquidated positions were longs, highlighting the fragility of leveraged trading in a market still reeling from a $1.2 trillion loss in market capitalization over 42 days.

The turbulence extends beyond crypto. The Trump administration's recent tariff adjustments have further complicated market dynamics. While tariffs on coffee, fruits, and certain beef products were rolled back, Brazil-the world's largest coffee producer-remains subject to a 40% import duty. This has shifted U.S. trade flows toward Asian and Latin American suppliers, benefiting domestic roasters but squeezing Brazilian exporters. "It's a question of price adjusting trade flows," said Judith Ganes, a senior commodities analyst. The changes also impacted Vita Coco, a coconut water company that reported a 6% reduction in average tariffs for its products. The firm's shares rose 3.8% in premarket trading following the announcement.

The interplay between crypto and traditional markets highlights a broader shift in economic policy. Trump's tariff strategy, which includes a $200 billion investment pact with Switzerland and a $20 billion aid package to Argentina, reflects a dual focus on reshoring industries and stabilizing geopolitical allies. Yet, as the crypto sector grapples with leverage-driven volatility, corporate treasuries like BitMine's Ethereum holdings may serve as a counterweight to market instability.