August 12, 2025
5 min read
Zoltan Vardai
BitMine Eyes $24.5B Raise as SharpLink Expands Corporate Ether Holdings Amid ETH Rally
The corporate race to acquire Ether (ETH), the world’s second-largest cryptocurrency, is intensifying as BitMine Immersion Technology and SharpLink raise billions to expand their Ether treasuries. This surge in corporate buying comes as Ether approaches its previous all-time high, signaling growing institutional interest. Public Bitcoin mining firm BitMine is targeting a massive $24.5 billion capital raise through an at-the-market (ATM) stock sale offering, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The funds are intended primarily to acquire additional Ether tokens. SharpLink, a corporate crypto treasury firm, recently completed a $389 million capital raise through common stock sales to select institutional investors, as disclosed in another SEC filing. SharpLink plans to use most of these proceeds to purchase ETH, while also allocating part of the funds for working capital, general corporate purposes, operating expenses, and marketing. To date, SharpLink has raised approximately $1.4 billion in gross proceeds from over 71.5 million shares sold. According to data from StrategicEthReserve, BitMine currently holds 1.2 million ETH valued at $5 billion, making it the largest corporate Ether holder globally. SharpLink follows with 598,000 ETH worth $2.64 billion. BitMine has previously announced ambitions to acquire up to 5% of the total Ether supply.Ether Nears All-Time High Amid Growing Corporate Adoption
Ether’s price has surged over 21% in the past week, trading around $4,408 at the time of writing, just 9% below its November 2021 all-time high of $4,890. This upward momentum is fueled by increasing adoption of Ether as a secondary treasury reserve asset by corporations and publicly traded firms. Gracy Chen, CEO of crypto exchange Bitget, told Cointelegraph that "Wall Street firms and the broader TradFi world are just warming up to the idea of Ethereum as a treasury reserve asset." She added that growing interest in real-world asset tokenization has reignited demand for Ether alongside Bitcoin. Standard Chartered predicts that Ethereum-focused treasury firms could eventually hold up to 10% of the total Ether supply, a significant increase from just 1% as of late July.Frequently Asked Questions (FAQ)
Corporate Ether Holdings
Q: What is the primary reason for BitMine's massive capital raise? A: BitMine is primarily raising capital to acquire additional Ether tokens. Q: How much capital is BitMine aiming to raise? A: BitMine is targeting a $24.5 billion capital raise through an at-the-market stock sale offering. Q: What are SharpLink's plans for the capital it recently raised? A: SharpLink plans to use most of the proceeds to purchase Ether, with the remainder allocated for working capital, general corporate purposes, operating expenses, and marketing. Q: How much ETH does BitMine currently hold? A: BitMine currently holds 1.2 million ETH, valued at $5 billion. Q: How much ETH does SharpLink currently hold? A: SharpLink currently holds 598,000 ETH, valued at $2.64 billion. Q: Who is the largest corporate Ether holder globally, according to the article? A: According to the data cited, BitMine is the largest corporate Ether holder globally. Q: What is BitMine's stated ambition regarding Ether supply? A: BitMine has previously stated its ambition to acquire up to 5% of the total Ether supply.Ether Market Trends
Q: What is the current price trend of Ether (ETH)? A: Ether's price has surged recently, trading just 9% below its November 2021 all-time high. Q: What factors are driving the increase in Ether's price and corporate interest? A: The upward momentum is fueled by increasing adoption of Ether as a secondary treasury reserve asset by corporations and publicly traded firms, as well as growing interest in real-world asset tokenization. Q: What is the prediction for Ethereum-focused treasury firms' ETH holdings? A: Standard Chartered predicts that these firms could eventually hold up to 10% of the total Ether supply. ##Crypto Market AI's Take This news highlights a significant trend in institutional adoption of Ether as a treasury reserve asset. As cryptocurrencies mature, we are seeing traditional financial players increasingly integrate digital assets into their strategies. Our platform is designed to support this evolution by providing sophisticated tools for market analysis and trading, enabling both institutional and individual investors to navigate this dynamic landscape. For those looking to understand the broader market dynamics and how companies are positioning themselves, our AI-powered market analysis section offers in-depth insights. Furthermore, exploring our AI trading bots can provide a glimpse into how advanced algorithms are being used to capitalize on market movements. ##More to Read:- Why Public Companies Are Loading Up on Solana
- Standard Chartered: Ethereum Treasury Firms Have Better Value Than US ETH ETFs
- Ether Nears All-Time High Amid Growing Corporate Adoption