Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
XRP 
USDC 
Lido Staked Ether 
Cardano 
Avalanche 
1M ETH holdings is now the new milestone in corporate crypto accumulation, thanks to BitMine’s treasury expansion.
On August 15, the firm confirmed a balance of 1.17 million Ethereum, valued at more than $5 billion. The company added over 317,000 ETH in one week. That single purchase totaled around $2 billion.
BitMine’s Ethereum position grew from zero to 1M ETH holdings in just six weeks. The strategy launched on June 30. According to Chairman Tom Lee, BitMine aims to control 5% of Ethereum’s total supply.
The move places BitMine ahead of SharpLink Gaming, which previously led corporate ETH holdings with 728,804 ETH. SharpLink disclosed $2.6 billion in new capital aimed at Ethereum, and nearly all of its tokens are staked.
Ethereum treasury race heats up
Data from the Strategic ETH Reserve shows 71 firms hold a combined 3.7 million ETH. That amount equals 3.06% of all Ethereum in circulation. Companies have outlined plans to spend $27 billion more on ETH.
If completed, these acquisitions would push corporate ownership above 10% of Ethereum’s total supply. BitMine has already filed to expand its stock sale program by $20 billion to fund its ETH purchases.
BitMine’s market performance has reflected investor optimism. Its share price jumped by over 1,100%. Daily trading volume now averages $2.2 billion. That ranks BitMine 25th among US-listed equities. After a very long period of time I would say, during which, absolutely everyone on X has questioned the Ethereum’s existence, its utility in the crypto industry, if we really need it anymore, if there are other better solutions and so many other angle, finally, we see Ethereum reaching recently an outstanding all-time-high with a huge demand from institutional players.
ANOTHER MUST-READ ON ICN.LIVE:
ICN.live Key Opinion | EXCLUSIVE Interview with Juliet Su, Funding Partner at NewTribe Capital
Institutional moves signal ETH confidence
BitMine’s 1M ETH holdings signal a wider shift in how institutions value Ethereum. ETH staking supports network security while generating yields. That incentive structure aligns with long-term corporate goals.
On July 21, Ark Invest reallocated $175 million from Coinbase and Robinhood into BitMine. That vote of confidence reinforces Ethereum’s status as a financial infrastructure layer.
The treasury strategy now positions BitMine as the third-largest crypto holder globally. Only Strategy (Bitcoin-focused) and MARA Holdings have larger digital asset reserves.
If Ethereum becomes essential financial infrastructure, BitMine’s early position could shape the future role of corporate treasuries. But, this, of course, only time will tell us.
