Corporate Ether Acquisition Gains Momentum as BitMine and SharpLink Target Significant Holdings Nearing Record Prices
Main Idea
Corporate Ether acquisition is accelerating as companies like BitMine and SharpLink raise billions to increase their ETH holdings, with Ether nearing its all-time high price.
Key Points
1. BitMine is raising $24.5 billion through an at-the-market stock sale to acquire more Ether, while SharpLink has completed a $389 million capital raise for the same purpose.
2. Ether is currently trading at $4,408, just 9% below its all-time high of $4,890 recorded in November 2021.
3. BitMine is the largest corporate holder of Ether with 1.2 billion ETH worth $5 billion, followed by SharpLink with 598,000 ETH worth $2.64 billion.
4. The surge in corporate Ether acquisitions is driven by growing institutional interest in Ethereum as a treasury reserve asset.
5. Ethereum-focused treasury firms could potentially hold up to 10% of the total Ether supply in the long term, up from 1% as of July 29.
Description
The corporate Ether acquisition race is accelerating as BitMine and SharpLink raise billions to acquire more ETH, nearing its all-time high. BitMine is raising $24.5 billion to acquire more Ether
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