BitMine Smashes Records: First Corporate Treasury to Hoard Over 1 Million Ethereum
Move over, gold reserves—BitMine just rewrote the corporate treasury playbook. The crypto giant's Ethereum vault now holds enough digital assets to make central bankers sweat.
The 1 Million ETH Club
No publicly traded company has ever crossed this threshold. While tech firms dabble in crypto balance sheets, BitMine went full maximalist—locking down enough ETH to fund a small nation's blockchain infrastructure. Treasury teams at Fortune 500s are either taking notes or quietly hyperventilating.
Why This Stings Traditional Finance
Wall Street still treats crypto like a risky side bet, but BitMine's war chest proves institutional adoption isn't coming—it's already here. The hedge funds that dismissed Ethereum as 'internet funny money' now face a competitor sitting on $3B+ worth (and that's after the bear market).
One question remains: When do we see the first corporate ETH staking yield show up in an earnings report? Your move, BlackRock.
Ethereum treasury race heats up
BitMine’s rapid climb – from zero to over 1 million ETH since launching its strategy on June 30 – now places it firmly ahead of SharpLink Gaming, which holds 728,804 ETH. SharpLink disclosed on August 15 that it has raised over $2.6 billion for acquisitions and staked nearly all of its tokens, earning an additional 1,326 ETH in cumulative rewards.
According to data from the Strategic ETH Reserve, 71 Ethereum-focused treasury firms currently hold a combined 3.7 million ETH, valued at about $16.3 billion. This represents 3.06% of ETH’s total supply. Collectively, these firms plan to allocate roughly $27 billion for further purchases, which could bring corporate control closer to 10% of the circulating supply.
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BitMine prepares next funding wave
To maintain its lead, BitMine has filed an amendment to expand its at-the-market equity program by $20 billion, providing fresh firepower for acquisitions. The move signals that the company isn’t slowing down and may continue absorbing large portions of ETH’s available liquidity.
Analysts warn that such heavy accumulation could have far-reaching effects on Ethereum’s price dynamics, staking yields, and network decentralization. While corporate interest may bolster institutional confidence, it also raises questions about how concentrated control of ETH supplies could reshape governance and market stability in the years ahead.
