Oh, dear reader, hold onto your bowler hats! The chaps over at BitMine Immersion Technologies have just pulled off quite the coup, gobbling up a staggering $2 billion worth of Ether in the blink of an eye—specifically, in just 16 days. With all the finesse of a well-trained butler, they have managed to snatch 566,776 ETH, reclaiming the title of top dog among a veritable pack of newly minted Ether treasury firms. Talk about a scramble for the spoils! 🐶
Our dear friend Tom Lee, the managing partner of FundStrat and chairman of BitMine, waxed lyrical about their recent buying binge, cheerfully announcing that they are “well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.” One can only imagine the shenanigans that must ensue in the boardroom as they toast to new heights, clinking mugs of frothy ale! 🍺
According to the Strategic Ether Reserves, BitMine now stands proud as the biggest Ether treasury firm, with SharpLink Gaming nipping at their heels with a modest stash of approximately 360,800 ETH, while the Ethereum Foundation lingers in the background with a paltry 237,500 ETH, likely pondering their next strategic move over a cup of Earl Grey.
Now, BitMine has its eyes set on a charming 5% of Ether’s supply; Saylor, bless him, is trailing behind with a mere 2.9% of Bitcoin
With Ether’s supply dancing like a dandy, a dazzling 5% would amount to around 6 million Ether, which would set them back a cool $22 billion at current prices—pocket change for these highrollers, right? 💸
Our dear Ether is quite the flibbertigibbet, lacking a fixed supply; it could either frolic about increasing or shrink like a wool sweater left in the wash, depending on whether more ETH meets its fiery demise than is concocted. Marvelous! 🔥
If BitMine triumphs, they could eclipse our old friend Michael Saylor and his Strategy, who has only managed to wrangle a timid 607,770 Bitcoin (BTC), representing a paltry 2.9% of Bitcoin’s 21 million coin supply. However, fear not! Saylor insists he’ll continue amassing Bitcoin as if he’s collecting rare stamps or butterflies. 🦋
Meanwhile, the BitMine boys have once again outfoxed SharpLink Gaming to reclaim the title of largest corporate Ether aficionados.
Just this Tuesday, SharpLink Gaming reported a rather grand purchase of 79,949 Ether, bringing their total hoard to 360,807, valued at about $1.3 billion—enough to make a financial wizard weep with joy! 🧙♂️
The stock market dances since the Ether pivot
It seems the stocks of both BitMine and SharpLink Gaming have been buoyed higher than a soufflé after they added Ether to their respective tea trays. Following their grand pronouncements, Bitmine stock (BMNR) skyrocketed by more than 3,000%—we’re talking about an all-time high of $135 on July 3! What a jolly good ride! 🎢
As for SharpLink Gaming, their Ether pivot announcement on May 27 saw their share price balloon to a 171% increase, trading at $79.21—considering an afternoon tea of champagne and scones might just be in order! 🥂
Billions of Ether stocked in strategic reserves
Currently, a staggering 2.31 million Ether is nestled snugly within 61 strategic reserves, representing 1.91% of the total supply, valued at $8.46 billion. A tidy sum, I daresay! 💼
In contrast, our friends at Bitbo throw a grand tea party for 206 firms holding over 3.4 million Bitcoin, a treasure worth over $408 billion, comprising a robust 16.5% of the total supply. Now that’s a raucous event one wouldn’t want to miss!
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2025-07-25 07:04