Corporate Ether Acquisition Gains Momentum as BitMine and SharpLink Target Significant Holdings Nearing Record Prices

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.