BitMine Ether purchase plan targets $24.5B as SharpLink raises $389M, driving ETH closer to record highs amid rising institutional demand.
Author: Akshat Thakur
August 12, 2025 – The corporate race to accumulate Ether is intensifying as BitMine and SharpLink raise billions to expand their positions, pushing ETH closer to record highs.
BitMine Immersion Technology, the largest corporate holder of Ether, filed with the US Securities and Exchange Commission to raise $24.5 billion via an at-the-market stock sale. The capital will primarily fund the latest BitMine Ether purchase strategy, reinforcing its commitment to acquiring a larger share of the asset.
On the same day, SharpLink announced it had raised $389 million from institutional investors. The company stated that most of the proceeds would go toward a new SharpLink Ether purchase initiative, while a portion would be allocated to working capital, corporate purposes, and marketing operations.
StrategicEthReserve data shows BitMine holds 1.2 billion ETH valued at $5 billion, followed by SharpLink with 598,000 ETH worth $2.64 billion. Both firms have made public commitments to expand their Ether positions, with BitMine aiming to own up to 5% of the total supply.
Ether has surged over 21% in the past week to trade at $4,408, now just 9% shy of its all-time high set in November 2021. Analysts attribute the rally partly to growing corporate adoption and the surge in real-world asset tokenization, which has boosted institutional interest in Ethereum.
According to Bitget CEO Gracy Chen, Wall Street is still in the early stages of viewing Ether as a treasury reserve asset. This shift in perception could drive further BitMine Ether purchase initiatives and similar acquisitions from other corporate players.
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