Amid a sea of firms adopting Ethereum treasury strategies, Sharplink Gaming and Bitmine have emerged as two of the most aggressive players.
Sharplink Gaming currently holds the largest ETH treasury among public companies, with 360,807 ETH valued at approximately $1.33 billion. Bitmine follows closely, holding 300,700 ETH.
Both companies have made significant commitments to Ethereum.
Sharplink has allocated 52% of its total valuation of $2.53 billion to ETH, while Bitmine has dedicated 54% of its current valuation to the asset.
Meanwhile, BTCS, a smaller-cap firm with a market valuation of just $144 million, has taken an even bolder approach—allocating 144% of its valuation to Ethereum.
The company now holds 55,000 ETH worth around $206 million.
Top ETH holding firms. Source: Wu Blockchain.
ETH Treasury Firms See Stock Prices Soar
Much like MicroStrategy’s early Bitcoin strategy, the Ethereum-focused treasury moves have sent the stock prices of these companies soaring.
After spending much of the bull market in Bitcoin’s shadow, ETH is now seeing renewed interest as both a strategic and institutional asset.
Favorable regulatory shifts and rising institutional adoption have helped turn sentiment in Ethereum’s favor.
Over the past month alone, ETH has jumped from under $2,800 to a multi-month high of $3,800.
Despite still trading below its all-time high of $4,800 set in 2021, the outlook remains bullish.
Analysts increasingly point to Ethereum’s expanding use cases and corporate adoption as catalysts that could push its price past the $10,000 mark during this cycle.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
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