TLDR
- BitMine holds 300,657 ETH worth $1B, surpassing the Ethereum Foundation as the largest corporate ETH holder.
- BitMine’s $250M raise fuels rapid ETH accumulation, backed by institutional support like Peter Thiel’s Founders Fund.
- Ethereum price surges to $3,406, driven by corporate accumulation from firms like BitMine and GameSquare.
- BitMine plans to stake 5% of ETH’s circulating supply, aiming for governance control and staking rewards.
BitMine has now surpassed the Ethereum Foundation to become the largest corporate holder of Ethereum, with a treasury valued at over $1 billion. The Nevada-based firm recently disclosed its Ethereum holdings, which have surged to 300,657 ETH.
This milestone follows a significant increase in its ETH acquisitions, backed by strong institutional support. BitMine’s latest moves are reshaping the Ethereum ecosystem, as the firm’s stake grows rapidly.
BitMine’s Surge in Ethereum Holdings
BitMine has made a major move in the cryptocurrency space, holding 300,657 ETH worth approximately $1 billion. This acquisition was enabled by a $250 million private placement completed on July 8th.
The company’s strategic focus on Ethereum comes as the cryptocurrency reaches a five-month high, driven by significant accumulation from whales like BitMine. The firm’s approach to growth is centered on a treasury strategy that aims to leverage market volatility to reduce capital costs and increase the value of its holdings.
With this acquisition, BitMine now surpasses the Ethereum Foundation’s holdings, positioning itself as the largest corporate Ethereum holder. This shift marks a significant change for BitMine, which was previously focused on Bitcoin mining, and indicates a broader trend of growing corporate influence on Ethereum’s decentralized ecosystem.
🚨THE RACE TO HOLD 5% OF THE ETH SUPPLY HAS STARTED🚨
Tom Lee puffing his chest to the competition here 😎🤝
At BitMine, we have surpassed $1 billion in Ethereum holdings, just seven days after closing on the initial $250 million private placement,”
“We are well on our way to… pic.twitter.com/0lVgylNqYI
— LordJamieVShiLL.eth (@LordJamieVShiLL) July 17, 2025
BitMine’s CEO, Jonathan Bates, emphasized the company’s confidence in Ethereum’s long-term potential, confirming plans to continue growing its ETH holdings. The company intends to fund its acquisitions through reinvested cash flows, staking yields, and capital market activities.
Institutional Backing Boosts BitMine’s Market Position
BitMine’s recent success in expanding its Ethereum treasury has not gone unnoticed by institutional investors. The Founders Fund, led by tech billionaire Peter Thiel, has acquired a 9.1% stake in BitMine.
This backing from such a prominent investor has bolstered BitMine’s position in the market. The firm’s shares saw a 27% increase in pre-market trading after the news of the ETH acquisition broke, with further gains following its latest disclosures.
The institutional investment highlights growing confidence in Ethereum and in BitMine’s strategic direction. Peter Thiel’s Founders Fund is known for backing innovative ventures, and this stake solidifies BitMine’s position as a major player in the cryptocurrency sector.
The backing has had a positive effect on BitMine’s stock price, which rose by 34%, reflecting market confidence in the company’s future prospects.
Ethereum Price Dynamics and Corporate Influence
Ethereum’s price has been on the rise, with ETH trading at $3,422.12 at the time of writing. The price increase is partly driven by corporate accumulation, with firms like BitMine purchasing large amounts of ETH.
The growing corporate presence in the Ethereum market has shifted network dynamics, raising questions about the distribution of power within Ethereum’s decentralized ecosystem.
As of now, Ethereum’s price has increased by nearly 5%, continuing its upward trajectory. This surge reflects broader market interest, especially as institutional players continue to make significant investments in the network.
The entry of large corporate holders like BitMine signals a shift in how Ethereum is viewed—no longer just a digital asset but a strategic tool for governance and staking rewards.
Corporate Ethereum Investments Grow as Companies Seek DeFi Yields
GameSquare Holdings is also making significant moves in the Ethereum market, raising $70 million through a public offering of 46,666,667 shares at $1.50 each. The company plans to use these funds to expand its Ethereum holdings and generate on-chain yields via decentralized finance (DeFi) protocols.
CEO Justin Kenna expressed the goal of transforming GameSquare’s traditional treasury operations into a high-performance business unit.
Alongside GameSquare, other companies like SharpLink Gaming are increasing their Ethereum investments. SharpLink purchased 74,656 ETH in a short period, signaling a broader trend of corporations focusing on Ethereum-centered treasury strategies.
These companies aim to achieve substantial returns by utilizing DeFi protocols and Ethereum ecosystem assets.
BitMine, similarly, is planning to stake a large portion of its Ethereum holdings. By staking 5% of Ethereum’s circulating supply, BitMine intends to gain control over transaction validation and governance within the network.
This move aligns with the company’s long-term strategy to become a dominant player in Ethereum’s decentralized ecosystem.
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