Ethereum’s Biggest Corporate Holder Plans Massive Buying Spree
Ethereum’s price momentum is being matched by an aggressive buying spree from one of its largest corporate supporters.
BitMine Immersion Technologies has revealed plans to dramatically expand its share sale program, aiming to raise up to $24.5 billion — funds it says could fuel more Ethereum purchases, alongside bitcoin acquisitions and mining ventures.
The move marks a huge leap from the company’s earlier fundraising targets. What began as a $2 billion at-the-market offering in early July quickly rose to $4.5 billion later that month.
Now, the latest SEC filing increases that figure more than fivefold, underscoring the scale of BitMine’s ambitions.
This expansion comes just after BitMine crossed a major milestone: surpassing 1 million ETH in its treasury. The company now holds 1.15 million ETH — worth about $5 billion — following a single-week addition of 317,000 ETH.
Chairman Tom Lee believes the market could be entering an “Ethereum MicroStrategy” phase, citing favorable regulatory shifts, growing onchain adoption by big institutions, and rising confidence in stablecoin integration.
Ethereum’s price has climbed 5.4% in the past day to $4,405, its highest level since 2021, supported by similar large-scale accumulation from other corporate treasuries. BitMine’s stock has also rallied, adding nearly 15% on Monday and continuing higher in pre-market trade.
Other significant ETH holders include SharpLink with around 599,000 ETH and The Ether Machine with 345,000 ETH. Analysts at Standard Chartered suggest this is only the beginning, projecting that treasury firms could eventually control 10% of the total Ethereum supply.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
