BitMine Solidifies Lead as top Corporate Ethereum Holder
BitMine has taken a major step forward in its Ethereum investment strategy, acquiring an additional 9,600 ETH for around $45 million. With this, the company is firmly seated as the largest corporate owner of Ethereum in the world.
According to on-chain data provided by Lookonchain, BitMine now holds approximately 1.58 million ETH, worth nearly $7.5 billion. since starting its accumulation journey back in mid-July, the firm’s stake has surged significantly.
Tom Lee, chairman of BitMine, shares the company’s vision: “Ethereum is a key player in the macro trades of the next decade. We think blockchain technology,especially Ethereum,is poised to revolutionize finance,notably with Wall Street and AI coming on board.”
- Corporate entities are collectively holding around $19 billion worth of ETH.
- SharpLink Gaming owns over 740,000 ETH worth more than $3.5 billion.
- The Ether Machine holds some 345,000 ETH worth close to $1.6 billion.
However, Ethereum co-founder Vitalik Buterin has raised concerns. he warns of the dangers of “leveraged poker,” where companies might risk heavy borrowing against their ETH reserves.
Despite occasional setbacks, the ETH price has reached notable heights recently. The future looks promising, though, as Ethereum continues to domineer the crypto space.
