With cryptocurrency prices now exceeding $4,300, the total reserve of ether held by companies, often referred to as Crypto Treasuries, has climbed to 3.04 million ETH, translating to about $13 billion.
On Monday, Ether (ETH) reached $4,332, reflecting a notable increase of 20.4% in just a week. However, as I write this, ETH has dipped a bit to around $4,290. This rally seems to be fueled in part by businesses ramping up their holdings over the last month.
Leading the charge is Bitmine Immersion Technologies, which has significantly boosted its holdings by 410.68% over the past 30 days, now holding 833,100 ETH.
Sharplink Gaming also made headlines with its own increase, reaching 521,900 ETH after climbing 141.69% in the same timeframe, while the ether machine saw a smaller increase of 8.01%, holding 345,400 ETH now.
These three companies collectively own more than half of the ether held by the top ten ETH holders, which altogether hold 2.63 million ETH.
Top 10 ETH Treasury Entities Hold Over $11.3 Billion
This week’s surge in prices has led to a significant boost in the value of these companies’ ETH assets.
Just last Monday, Bitmine acquired 208,137 ETH, bringing its total to the 833,100 ETH it holds now, which was valued at roughly $2.9 billion when the price was around $3,700. At $4,300, those holdings are now worth over $3.58 billion, making Bitmine the first company to cross the $3 billion threshold with its ETH.
On Tuesday, Sharplink also increased its holdings to 521,900 ETH after buying an additional 83,562. At that time, Sharplink’s assets were valued at about $19.1 billion, and with the rise in ETH prices, they are now worth more than $2.23 billion.
Strategic Eth Reserve (SER), which tracks ETH Treasury data, has reported that Sharplink has realized over $671 million in unrealized returns from its ether investments.
On August 3rd, the ether machine celebrated Ethereum’s 10th anniversary by purchasing 15,000 ETH and added 10,600 more the following Sunday, according to SER data. The machine’s current holdings of 345,362 ETH are valued at nearly $1.5 billion, keeping it among the top three holders.
However, aside from these leading firms, activity was relatively muted last week. On Friday, the Hong Kong-listed IVD Medical made a purchase of approximately $149 million worth of ETH through its trading platform, although the exact amount of ETH acquired hasn’t been disclosed.
Overall, SER data indicates that the 64 treasury companies that hold ETH collectively own 3.04 million ethers, worth over $13 billion at the current market prices.
