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BlackRock Buys the Dip With $314 Million in Ethereum
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BlackRock Buys the Dip With $314 Million in Ethereum

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  • BlackRock tops Ethereum holdings
  • Ethereum price outlook 

Although the crypto market is down today, institutional interests in Ethereum appear unmoved. 

While Ethereum has seen its price trade in the red zone for the most part of the day, BlackRock has displayed resilience with another major ETH buy activity, according to data from Arkham Intelligence Firm.

In an attempt to stack up on the second-largest cryptocurrency by market capitalization for lesser costs, BlackRock has purchased large amounts of Ethereum worth $314 million on August 26th.

BlackRock tops Ethereum holdings

While BlackRock’s iShares Ethereum ETF is renowned for leading the broad crypto ETF community in its steady accumulation of Bitcoin and Ethereum, the move comes as no surprise. However, the timing of the massive ETH buy from BlackRock has got the crypto community talking.

BlackRock’s ETH purchase comes at a time when the market is experiencing massive price downturns, with Ethereum falling as low as $4,316 on the same day. While the price downturn has seen investors exercise caution as sentiments turn bearish, BlackRock has seized the opportunity to accumulate the asset at a cheaper price.

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Although the move signals resilience among Ethereum’s large holders, commentators fear that BlackRock’s massive Ethereum bet at a time like this may cause the leading investment firm to lose its funds.

Ethereum price outlook 

With Ethereum’s recent price rally being preceded by a notable price decline that has lasted for the past two days, investors have shown mixed sentiments on the asset’s price potential.

Amid speculations that ETH’s ongoing downturn is a healthy price correction that will possibly lead to a more sustainable rally in the price of the asset, some analysts have issued warnings that it might be a sign of an early bear phase.

Despite the division over Ethereum’s short-term trajectory, BlackRock has continued to double down on Ethereum during the price slumps. With BlackRock’s latest Ethereum purchase, there are hopes that the move could reinforce investor confidence. Thus, this could help fuel optimism among retail and institutional investors in Ethereum’s long-term price potential.

While Ethereum is trading at $4,515.67 as of press time, the asset is showing a price decline of 1.51% over the last 24 hours. With this slow price action, Ethereum has seen its price fall as low as $4,316 and surge as high as $4,595.88 on August 26th.



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Bitmine Adds Another 4,871 Ethereum To Treasury: Now Holds $7.65B In ETH
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Bitmine Adds Another 4,871 Ethereum To Treasury: Now Holds $7.65B In ETH

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum is holding steady above the $4,400 mark after a weekend surge that briefly carried it to fresh all-time highs. The rally, fueled by strong institutional demand and broader market optimism, has been tempered over the past two days as the price retraced to test lower levels. Despite the pullback, ETH remains one of the most closely watched assets in the market, with bulls and bears both eyeing the next decisive move.

Analysts are divided. Some argue that ETH’s ability to maintain support above $4,400 signals resilience and a potential setup for another rally toward $5,000. Others, however, see warning signs of buying exhaustion and raise concerns of a deeper correction if market sentiment shifts.

Adding to the intrigue, blockchain analytics firm Lookonchain revealed that Bitmine, Ethereum’s largest corporate holder, bought another 4,871 ETH worth $21.28M just 12 hours ago. This brings Bitmine’s total holdings to staggering levels, reaffirming the narrative of large-scale institutional accumulation.

The combination of strong whale activity, heightened institutional demand, and volatile short-term price swings underscores the pivotal moment Ethereum faces. Whether ETH breaks higher into uncharted territory or succumbs to correction pressures will be a defining factor for the broader altcoin market.

Bitmine’s recent Ethereum transaction | Source: Lookonchain

Ethereum Whale Accumulation Strengthens Bullish Outlook

According to Lookonchain, Bitmine currently holds 1,718,770 ETH valued at $7.65 billion, making it one of the largest corporate holders of Ethereum. This accumulation trend has become a defining feature of the current market cycle, with other companies such as Sharplink Gaming and Bit Digital also expanding their ETH positions. Such large-scale institutional buying reinforces the bullish continuation narrative and sets Ethereum apart as the leading altcoin for long-term growth.

Beyond accumulation, macro conditions and legal clarity in the US are playing a vital role in Ethereum’s outlook. The clearer regulatory environment is attracting more institutions, which now see ETH not only as a key player in decentralized finance but also as an asset with growing legitimacy. This shift in sentiment is fueling expectations for Ethereum to outperform in the coming months.

At the same time, liquidity dynamics are tightening. Exchanges are reporting declining ETH balances, while OTC desks such as Wintermute highlight a fast-paced decline in reserves. This suggests that supply is increasingly being absorbed by institutions and long-term holders, leaving fewer coins available on the open market.

The combination of institutional demand, regulatory clarity, and shrinking supply creates a powerful backdrop for Ethereum. While short-term volatility may persist, the underlying fundamentals point to a market primed for continuation toward new milestones.

Weekly Chart Signals Strength

Ethereum’s weekly chart shows that the asset is in the middle of a significant test after its surge to new highs above $4,800. Following that rally, ETH retraced sharply, now trading around $4,422, reflecting a volatile but healthy correction after weeks of steep gains. Despite this drop, the chart still shows ETH maintaining its broader bullish structure.

ETH testing ATH levels | Source: ETHUSDT chart on TradingView

The 50-week moving average (blue line) is curving upwards, signaling renewed momentum after months of consolidation earlier this year. Meanwhile, the 100-week (green) and 200-week (red) moving averages remain well below the current price, reinforcing that ETH is still in a strong macro uptrend. The retracement seems to be finding support around the breakout zone of $4,200–$4,400, which could act as a new base if bulls defend it.

The most notable takeaway is how ETH has broken free from its long consolidation between 2022 and early 2025, where the price struggled under $3,000. That multi-year resistance zone has now flipped into strong support, suggesting the potential for Ethereum to sustain higher levels in the months ahead.

Featured image from Dall-E, chart from TradingView

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Ethereum Treasury SharpLink Adds $252 Million in ETH to Holdings

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In brief

  • SharpLink Gaming added around $250 million in Ethereum to its treasury last week.
  • The firm now holds nearly 800,000 ETH valued around $3.6 billion.
  • Myriad predictors are split as to whether or not the firm will reach its goal of 1 million ETH by mid-September.

Gambling marketer turned Ethereum treasury company SharpLink Gaming boosted its ETH holdings last week, adding around $252 million in Ethereum to its stash, the firm announced Tuesday. 

SharpLink added 55,463 ETH at an average price of $4,462, the firm said. The additions bring its total haul to 797,704 ETH valued at $3.6 billion based on the current price of Ethereum.

“Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision and the commitment of our team,” said SharpLink co-CEO Joseph Shalom in a statement. 

“With nearly 800,000 ETH now in reserve and strong liquidity available for further ETH acquisitions,” he added, “our focus on building long-term value for our stockholders while simultaneously supporting the broader Ethereum ecosystem remains unwavering.”

NEW: SharpLink acquired 56,533 ETH at ~$4,462. As of 8/26/2025 we hold 797,704 ETH valued at ~$3.7B

Key Highlights for the Week Ending August 24, 2025:

• $360.9M in net proceeds were raised through the ATM facility this past week.
• Total staking rewards rose to 1,799 ETH… pic.twitter.com/Kb4AKulf6f

— SharpLink (SBET) (@SharpLinkGaming) August 26, 2025

The Minneapolis-based firm raised around $360 million via its at-the-money facility last week to buy Ethereum and maintains around $200 million in cash to buy ETH, according to its statement.

SharpLink is among a handful of Ethereum treasury companies racing to gobble up the second largest crypto asset, now holding around 0.61% of the total ETH supply and only trailing Tom Lee’s BitMine Immersion Technologies among publicly traded firms. BitMine holds more than double the amount of ETH as SharpLink, with about $7.7 billion worth as present.

The firm has publicly stated a goal of acquiring 1 million ETH as its first major milestone, a goal which is around 79% completed as of Tuesday morning. In a Myriad market on Linea, 54% of respondents believe that SBET will reach this goal by September 16. Those odds have dropped 13% in the past 24 hours, despite the recent ETH purchases.

(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)

Shares of SBET have jumped about 1% on Tuesday to change hands at $19.35. The firm’s stock has sunk more than 7% over the past month, despite Ethereum’s 19% gain for the same period.

ETH was trading at $4,520, down more than 2% over the past 24 hours, although it hit a record high above $4,900 over the weekend. The second-largest asset by market value has benefited from the rise of treasuries and exchange-traded funds focused on the asset. 

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Ethereum, ETH Treasuries at ‘Good Entry Point’ After Market Pullback: Standard Chartered

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In brief

  • Standard Chartered’s Geoffrey Kendrick sees Ethereum’s pullback from its all-time high as a “great entry point” with $7,500 target by end of 2025.
  • Treasury companies and ETFs have purchased 4.9% of circulating ETH since June, with buying pressure driving the recent surge to $4,953 all-time high.
  • Ethereum ETFs attracted $444 million inflows Monday vs $219M for Bitcoin ETFs, as Ethereum outperforms BTC 32.6% vs 17.3% year-to-date.

Ethereum’s pullback from all-time highs creates a “great entry point” for investors, according to Standard Chartered.

The bank’s head of digital assets, Geoffrey Kendrick, believes Ethereum will reach $7,500 by the end of 2025 as institutional interest grows.

In a research note seen by Decrypt, he explained that Ethereum treasury companies and exchange-traded funds have purchased 4.9% of the ETH in circulation since June.

Kendrick argues that this buying pressure has played an instrumental role in helping the world’s second-largest cryptocurrency surge to $4,953 on Sunday—eclipsing the previous all-time high set in November 2021.

“Although these inflows have been significant, the point is that they are just getting started,” he added.

Last month, Kenrick had predicted that treasury companies will soon own 10% of all ETH in circulation—and now, he says that target is well on track to be met.

“ETH and the ETH treasury companies are cheap at today’s levels,” he wrote.

At the time of writing, CoinMarketCap data shows Ethereum is now trading at a 10.9% discount to the record highs set just two days ago.

Kendrick previously argued that it makes more sense for treasury companies to hold ETH rather than BTC as a reserve asset.

“ETH corporate treasuries can capture both staking rewards and decentralized finance (DeFi) leverage opportunities, which U.S. Ethereum ETFs currently cannot. As such, we think ETH treasury companies have even more growth potential than BTC ones,” he wrote in a note on July 29.

That hasn’t deterred investors from gaining exposure to ETH ETFs. SoSoValue data shows inflows stood at $443.9 million on Monday—more than double the $219 million that flowed into BTC-focused alternatives. And while BTC ETFs suffered outflows throughout the whole of last week, ETH funds managed to attract more than $628 million of capital across Thursday and Friday.

ETH has rallied by 32.6% in the year to date, considerably ahead of Bitcoin on 17.3%.

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Ethereum Is Outperforming And Beating Bitcoin In This Key Metric

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While Bitcoin’s price faced heightened bearish pressure in the last few days, Ethereum’s price experienced significant upside action, which led to a new all-time high during the weekend. In addition to outperforming Bitcoin in terms of price action, ETH is demonstrating notable on-chain activity when compared to BTC.

Bitcoin Is Lagging Behind Ethereum

Ethereum’s strength is becoming increasingly evident in the current bull market cycle, with new on-chain data highlighting its edge over Bitcoin. CryptoMe, a market expert, has outlined a key metric that underscores the disparity in momentum between the two crypto giants in a quick-take post on the CryptoQuant platform.

According to the market expert, Ethereum is giving strong signals compared to Bitcoin, as Wall Street is starting to adopt the altcoin. Considering the trend, ETH fundamentals appear to be painting a clear picture of resilience and market dominance. 

In the last 3 months, ETH has outperformed, and this disparity may continue for some time. CryptoMe’s analysis is based on a comparison of the Open Interest (OI) data for Bitcoin and Ethereum futures contracts traded on the Chicago Mercantile Exchange (CME).

Delving into BTC’s performance, the expert highlighted that Bitcoin hit an all-time high of $110,000 in January, then fell to $74,000 in March and April before rising to $124,000 for a new all-time high. However, the open interest did not retest its old levels during this period. 

Therefore, even if the price of Bitcoin increased, it would not be able to draw the same amount of institutional interest as CME options. Meanwhile, the circumstances are different for ETH. In 2024, ETH made several attempts to break past the $4,000 mark, but failed each time due to its weak open interest. 

Source: Chart from CryptoQuant on X

However, CryptoMe noted that the open interest in CME has started to increase in this current trend. The development implies that the ongoing uptrend is bolstered by fresh liquidity inflows and shows that the altcoin is diverging from Bitcoin.

ETH Rallies To New Highs: The Top Is Not In

ETH may have risen sharply to new highs, but CryptoMe foresees a continued uptrend due to the absence of retail investors on centralized exchanges. Typically, retail investors enter close to the top and give the major players exit liquidity. Nonetheless, since retail is still absent in the current move, it shows that ETH’s price action is healthy and has room to grow.

In the overall picture, ETH is showing a more bullish outlook compared to BTC lately. According to the market expert, the increase in CME open interest and the absence of retail participation indicate that this disparity might persist in the near to medium future.

At the time of writing, ETH was trading at $4,414, demonstrating a nearly 5% in the last 24 hours. Despite the waning price action, CoinMarketCap data reveals that investors’ sentiment is slowly turning bullish, as evidenced by a more than 10% increase in trading volume in the past day.

ETH trading at $4,442 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Ethereum Treasury ETHZilla’s Holdings Surpass 102,000 ETH
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Ethereum Treasury ETHZilla’s Holdings Surpass 102,000 ETH

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum treasury firm ETHZilla today announced a share buyback program of up to $250 million of its outstanding common stock. The company also revealed that it now holds more than 102,000 ETH on its balance sheet.

ETHZilla Increases Ethereum Holdings

According to today’s announcement, ETHZilla currently holds a total of 102,237 ETH at an average acquisition price of $3,948. Executive Chairman McAndrew Rudisill commented:

At ETHZilla, we continue to deploy capital to accelerate our Ethereum treasury strategy with discipline and record speed, As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders.

ETHZilla’s Ethereum holdings are now valued at more than $489 million. This latest acquisition positions the company as the fourth-largest publicly traded firm with an Ethereum treasury.

Data from CoinGecko shows that digital assets mining firm Bitmine Immersion currently holds the largest in the world with more than 1.7 million ETH on its balance sheet. It is followed by SharpLink with more than 740,000 ETH in its crypto reserves.

Source: CoinGecko.com

Notably, ETHZilla still maintains close to $215 million in cash equivalents. Following today’s announcement, its shares rose 6% to trade above $3.50. Year-to-date, the stock is up over 92%.

Source: Yahoo! Finance

ETH Adoption Outshing Bitcoin Adoption?

While adding BTC as a part of the corporate treasury strategy has been a practice for a few years, seeing companies take the same approach with ETH has been the theme of 2025.

Compared to previous years, a wide range of companies began adding ETH to their treasuries this year. For instance, Nasdaq-listed SharpLink Gaming unveiled another major ETH purchase last week, bringing its total ETH holdings to over $3 billion.

Similarly, another publicly traded firm – BTCS Inc. said it had bought more than 14,500 ETH last week. Currently, BTCS Inc. is placed sixth in the list of publicly traded Ethereum firms, holding more than 70,000 ETH.

Another Nasdaq-listed software firm, GameSquare invested $5 million in ETH as part of its investment strategy. The firm aims to invest as much as $100 million in ETH and other digital assets.

The spillover effects of a strong corporate demand for ETH can also be seen in the performance of ETH-based crypto investment products. In July 2025, ETH-based investment products attracted total inflows worth $907 million.

Meanwhile, crypto pundits continue to give ambitious ETH price targets, with some as high as $10,000 ETH. At press time, ETH trades at $4,635, down 3.9% over the past 24 hours.

Ethereum trades at $4,635 on the daily chart | Source: ETHUSDT on TradingView.com

Featured image from Unsplash.com, charts from Yahoo! Finance, TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Bitcoin, Ethereum and Dogecoin Slide as Crypto Liquidations Top $900 Million

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Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin continued to fall Monday, triggering a wave of liquidations that topped $900 million over the past 24 hours.

Bitcoin dropped below $110,000 for the first time since early July, spearheading a market-wide swoon after a whale unloaded 24,000 BTC worth $2.7 billion on Sunday. The continued dive also comes amid fresh doubts about the prospects of an interest rate cut and other macroeconomic uncertainties.

The largest cryptocurrency by market value was recently trading at $110,441, down 2.2% over the past 24 hours. BTC is down more than 5% over the past week.

“The weekend whale sale may have sparked the initial downdraft, but the broader picture is one of thinning liquidity and skittishness around macro,” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, wrote to Decrypt.

“With rate-cut hopes being pushed further out and equities wobbling, crypto was vulnerable to a sharper move lower once heavy supply hit the market,” he added. “What we’re seeing is less about one seller and more about a market that remains highly sensitive to outsized flows against a backdrop of macro uncertainty.”

Ethereum, the second largest digital asset, plunged 8% to trade at $4,375, just a day after reaching its latest record high. ETH topped $4,900 for the first time in its history on Sunday, two days after breaking its long-standing price record from 2021.

Crypto prices are in the red up and down the charts, with Dogecoin diving by more than 10% to $0.208, Solana falling 8.5% to $186 after reaching a six-month high on Sunday, and XRP dropping nearly 6% to $2.85.

More than $900 million worth of futures positions have been liquidated across the crypto market over the last day, per data from CoinGlass, led by Ethereum at $320 million and Bitcoin at about $210 million. Long positions, or bets that an asset’s price will increase, dominate the carnage at about $817 million out of the $903 million in total liquidations.

So far on Monday, there has been about $895 million worth of crypto liquidations. Myriad users don’t believe that there will be a single day with $1 billion worth of liquidations by the end of the month, giving it a roughly 36% chance as of this writing—but that mark has grown over the course of the day as prices have dropped.



(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

The declines come as markets fretfully await the latest U.S. economic data reports and other measures that may influence the Federal Reserve’s next rate decision. On Friday, Fed Chair Jerome Powell buoyed crypto and other risk-on assets when he hinted at a cut, which would be the first since last December. A decline in interest rates typically helps markets by freeing capital for investment.

On Friday, the U.S. Bureau of Economic Analysis releases the July Personal Consumption Expenditures report, the Fed’s favored price gauge. Analysts expect the PCE to rise to 2.9% annually, ticking up slightly from June. On Tuesday, The Conference Board’s monthly index is expected to show a decline in consumer confidence.

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Ethereum Nears All-Time High: Can The Momentum Sustain?
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Ethereum Nears All-Time High: Can the Momentum Sustain?

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The altcoin leader, and the world’s second-largest cryptocurrency, Ethereum (ETH) price is showing strong market momentum as it closes to its all-time high (ATH) of $4,953.73 today. In the past 24 hours, ETH has lost 6.87%, resulting in its market capitalization dropping to $552.32 billion.

Currently trading at $4,575.06 as per Etherscan with a trading volume of just over $66 billion, a critical question has been raised among the investors. Is Ethereum gearing up for a breakout, or are we seeing early signs of a short-term correction?

Ethereum On-Chain Insights

On-chain data reveals continued institutional interest in Ethereum through exchange-traded fund activity. ETF inflows reached $341 million on August 25, according to SoSoValue data, with total net assets under management crossing $30.5 billion. While temporary outflows were seen earlier this month, the rebound indicates confidence among large investors.

On the other hand, the active addresses on the Ethereum network, which has grown rapidly from 300K in May 2024 to around 432K, alongside ETH price action. Historical analysis indicates rising active addresses typically correlate with sustainable price advances due to increased network adoption and user engagement.

ETH Price Analysis

Looking at the technical charts, ETH price is consolidating after facing rejection near its all-time high. Additionally, the Bollinger Bands (BB) highlight expanded volatility, with the price recently hitting the upper band before experiencing a pull back.

The recent red candles and declining volume suggest short-term profit-taking by traders, rather than fundamental selling pressure. However, the broader uptrend remains intact, supported by higher lows since June. If bulls maintain buying pressure above the mid-Bollinger level that is around the $4,373 mark, it could result in another attempt toward uncharted territory for Ethereum.

Will Ethereum Hit A New High?

While the rejection near its ATH triggered a 6.87% pullback, strong on-chain fundamentals, including rising ETF inflows and healthy user activity, suggests a potential bullish turnaround. With this, the key levels to watch are $4,350 as near-term support and $4,950 as resistance.

If ETH price holds above support of $4,625 and demand increases, the next breakout could drive the price well beyond $5,000 mark, cementing a new all-time high for the second time this week. However, failure to sustain above that price point could invite correction toward the $4,350 range shortly.

Also Read: BitMine Expands Ethereum Treasury to 1.71M ETH Worth $7.9B 

Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.



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Ethereum Treasury ETHZilla Reveals $250 Million Buyback After Stock Craters

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In brief

  • Ethereum treasury company ETHZilla has announced a $250 million stock buyback program.
  • The firm’s stock is down by more than 50% over the last week, evaporating most of its recent gains.
  • Ethereum recently hit a new all-time high price, breaking a record that stood since 2021.

ETHZilla Corporation—a publicly traded Ethereum treasury firm formerly known as 180 Life Sciences—announced Monday that its board has authorized a stock repurchase program of up to $250 million of the company’s outstanding shares, effective immediately.

The move comes following a substantial dive for the firm’s stock price last week. ETHZilla, which trades on the Nasdaq under ETHZ, is down more than 53% on the week to a current price of $3.18, with the drop coming after a surge that tripled the stock’s value after billionaire VC Peter Thiel bought a stake in the company.

Last week’s price decline came as the company filed with the SEC on Friday to offer 74.8 million convertible shares, as part of an agreement reached on August 8. The filing fueled dilution concerns, as the total amount of outstanding shares is set to grow from 164.4 million to over 239.2 million.



ETHZ stock is down nearly 3.8% on the day following the stock buyback announcement. ETHZilla has given up most of its recent gains following last week’s price plunge, with the stock showing a less than 5% rise over the last month.

The Palm Beach, Florida-based company also disclosed it now holds 102,237 ETH at an average acquisition price of $3,948.72, valued at approximately $474 million as of this writing. The firm also has about $215 million in cash equivalents. The Ethereum tally includes 7,600 ETH acquired over the last week.

“At ETHZilla, we continue to deploy capital to accelerate our Ethereum treasury strategy with discipline and record speed,” said ETHZilla Executive Chairman McAndrew Rudisill, in a release. “As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders.”

ETHZilla plans to stake its most recently purchased Ethereum tokens to Electric Capital’s proprietary Electric Asset Protocol to generate yield, the company said.

The stock repurchase program is scheduled to expire by June 30, 2026, or when $250 million in shares has been repurchased. The program will be funded through working capital and potential future fundraising efforts.

The price of Ethereum hit an all-time high Friday for the first time in nearly four years, and continued to rise higher on Sunday, peaking at a new record of $4,946 according to data from CoinGecko. It’s down more than 4% over the last 24 hours, however, falling to a current price of $4,604 as the broader crypto market sags.

Despite the dip, Myriad users believe that ETH will continue to rise to new peaks and cross the $5,000 milestone by the end of 2025, with 86% of users predicting such a move. (Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

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Bitmine Expands Ethereum Treasury To 1.71M Eth Worth $7.9B
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BitMine Expands Ethereum Treasury to 1.71M ETH Worth $7.9B

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BitMine Immersion Technologies is rewriting the playbook for corporate crypto strategy after snapping up Ethereum at a record pace. The company, based in the United States, confirmed on August 24 that it now controls 1,713,899 ETH valued at $7.94 billion. 

According to the release, it also has $562 million in cash and 192 Bitcoin, increasing its total reserves to $8.82 billion. This growth demonstrates how BitMine is transforming organizations’ approach to crypto treasury tactics.

The growth comes after BitMine bought 190,526 ETH worth $883 million last week, boosting its balance sheet by $2.2 billion. Hence, the firm now ranks as the number one Ethereum treasury worldwide. Moreover, it stands second in overall crypto holdings, just behind MicroStrategy, which owns over 629,000 Bitcoin valued at $71 billion.

Rapid Growth in Treasury Strategy

BitMine launched its Ethereum treasury program on June 30 and closed its first phase on July 8. Since then, it has scaled holdings with speed, supported by institutional investors. 

Besides, its stock has surged in response to these moves. Per Yahoo Finance data, BMNR shares ended at $53.49 on Friday, climbing 12.07% in a single session. Ethereum, on the other hand, traded at $4,662.35 according to CoinMarketCap, being down 2.08% in the past 24 hours.

Chairman Thomas “Tom” Lee of Fundstrat explained the company’s momentum. “In the past week, BitMine increased its crypto and cash holdings by $2.2 billion,” Lee stated. He further noted, “At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”

Ethereum as a Macro Bet

Additionally, BitMine views Ethereum as a generational trade. Lee stressed, “We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years.” He pointed to Wall Street and artificial intelligence moving onto blockchain as catalysts for global financial transformation.

Moreover, BitMine’s crypto and cash NAV per share has soared to $39.84, up from $22.84 in late July. With average daily stock trading volume at $2.8 billion, the company has also become one of the most liquid equities in the US.

BitMine’s Ethereum push makes its dominance strong and also underscores Wall Street’s accelerating embrace of blockchain assets.

Also Read: Whales Move to Ethereum, Bitcoin Retreats Near $112,700 Mark



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