Bitmine’s Ethereum Treasury Tops $5B, Leads ETH Rankings
US-listed miner Bitmine has amassed about 1.2 million Ethereum, pushing its Ethereum holdings’ market value above $5 billion. According to Strategic Eth Reserve data, Bitmine’s on-chain Ethereum treasury reached $5.12 billion at the time of writing, ranking first among public crypto treasuries. Second-place Sharplink Gaming holds 728,800 ETH (around $3.25 billion), while The Ether Machine ranks third with 345,400 ETH (approximately $1.54 billion). Bitmine’s significant ETH accumulation highlights growing institutional interest in crypto holdings. The rise in Ethereum treasury values may underpin market stability and signal bullish sentiment. Large-scale corporate reserves of Ethereum often support price floors and can act as catalysts for further inflows into the crypto market.
Bullish
Bitmine’s large-scale Ethereum accumulation demonstrates strong institutional confidence in crypto assets. Historically, major on-chain treasuries held by public companies — such as MicroStrategy’s Bitcoin strategy — have underpinned price floors and sparked bullish momentum. Bitmine leading the ETH treasury rankings may attract additional capital and support liquidity. In the short term, this significant ETH reserve could stabilize prices around current levels. Over the long term, sustained corporate holdings of Ethereum are likely to bolster market adoption and drive further upside potential for ETH.