Publicly traded companies are increasingly adopting crypto treasury strategies beyond Bitcoin, including Ethereum. Fundstrat’s Tom Lee and Ethereum co-founder Joe Lubin are leading the charge, with public firms accumulating over 3.7 million ETH valued at $17 billion, representing more than 3% of the total supply.
BitMine Immersion Technologies, led by Tom Lee, unveiled plans for an Ethereum treasury with a $250 million private investment to purchase 1,150,263 ETH worth over $5 billion. Lee predicts a $60,000 ETH price, leading to an offering increase of $20 billion in August to bolster BitMine’s Ethereum treasury.
SharpLink Gaming is the second-largest publicly traded ETH treasury holder, maintaining 728,804 ETH valued at $3.2 billion. With chairman Joe Lubin’s ties to Ethereum, SharpLink aims to accumulate 1 million ETH through a recent $400 million direct offering and planned stock sales to raise up to $6 billion.
The Ether Machine, formed through a merger, holds the third-largest ETH treasury with 345,362 ETH worth $1.5 billion. Co-founder Andrew Keys injects capital to grow the treasury, recently acquiring around $40 million worth of ETH to reach its goal of $1.6 billion in total proceeds.
Coinbase, a leading crypto exchange, holds 136,782 ETH worth $602 million and aims for ETH accumulation. Its investment in Ethereum surpasses its Bitcoin holdings. After going public in 2021, Coinbase shares reached all-time highs in July 2025, reflecting the success of crypto firms in traditional markets.
Bit Digital transitioned to an Ethereum treasury strategy, amassing 121,076 ETH valued at over $530 million by August 11. The company shifted from Bitcoin mining to ETH accumulation, with minimal market reaction. Biotech firm 180 Life Sciences rebranded to ETHZilla, raising $425 million for an Ethereum treasury and acquiring 82,186 ETH worth $362 million.
Blockchain Technology Consensus Solutions (BTCS) holds 70,140 ETH valued at $309 million, employing a proactive strategy to acquire more Ethereum and generate value for shareholders. BTCS also acquired Ethereum-based NFTs and posted record revenues in Q2, with shares up nearly 90% year-to-date.
Read more at Yahoo Finance: The 7 Largest Publicly Traded Ethereum Treasury Firms