SharpLink Gaming and Bitmine Immersion together hold over 620,000 ETH, amounting to more than $2.3 billion, surpassing the Ethereum Foundation in terms of cash reserves.
Their strategy involves raising funds, converting them to ETH, and staking them, turning their balance sheets into true catalysts for the Ethereum network.
This dynamic also attracts financial giants: American Ethereum Spot ETFs saw $2.18 billion in inflows in a week, accelerating the rise of ETH.
Bitmine vs SharpLink: Duel with Hundreds of Thousands of ETH
Two unlikely names leading the ETH revolution: SharpLink Gaming and Bitmine Immersion Technologies. Together, they amass astronomical amounts of ETH, with SharpLink now holding more ethers than the Ethereum Foundation itself. And this wild race for cash is starting to have a real impact on the market.
SharpLink, a Minneapolis-based fan engagement company, currently holds 321,000 ETH, over $1.2 billion at the current price. On the other side, Bitmine Immersion Technologies is close behind with 300,657 ETH, valuing around $1.13 billion.
Their strategy is clear: raise capital massively, convert it to ETH, and put it to work through staking. Together, they embody a new model: publicly traded companies that do not speculate on cryptos… they integrate them into the core of their balance sheet.
Bitmine, led by Wall Street strategist Tom Lee, aims for 5% of the total Ethereum supply. The project? To create a kind of “Ethereum era central bank”. With support from Peter Thiel and other prominent figures, the company combines mining revenues, ETH derivatives, and advanced treasury operations.
A Battle of Image… and Influence on the Markets
Joseph Lubin, Ethereum co-founder, recognized the rivalry for what it is. In a notable post, he described this competition as a “fierce rivalry” mixed with “potential cooperation” to accelerate decentralization. A showdown between two companies seeking a substantial role in Ethereum’s financial history.
While the two firms battle it out, the numbers are skyrocketing. The price of ETH has risen over 6% in 24 hours, reaching $3,800 this weekend. In a week, the increase exceeds 25%. According to Tom Lee, this momentum could drive ether up to $15,000 in the coming months.
Institutions Enter the Ethereum Dance
This renewed interest is not just from two outsiders. The largest US institutions are also jumping in. US-listed Ethereum Spot ETFs saw a record of $2.18 billion in net inflows in a week. A figure indicating a massive shift of capital towards ether.
Add to that massive whale purchases, like a $50 million transaction spotted this weekend, and you have a simple equation: supply is dwindling, demand is exploding.
A New Era for Ethereum
Ether is no longer just a speculative asset. It is becoming a reserve currency of a new kind. SharpLink and Bitmine are not just betting on Ethereum: they are integrating, activating, and claiming it. In this battle for the digital gold of the 21st century, it may be these outsiders who are penning the first lines of the future decentralized financial system.
