Corporate treasuries holding Ether have increased their positions significantly over the past month, driving total institutional ETH holdings to 3.04 million ETH, worth more than $13 billion at current prices.
On Monday, Ether climbed to $4,332, according to CoinGecko, marking a 20.4% increase over the past seven days.
By press time, ETH had eased slightly to $4,290, but remained near its highest level since December 2021.
Data shows that companies have been steadily adding to their ETH reserves over the past 30 days, helping fuel the rally.
BitMine Leads Institutional Buyers
BitMine Immersion Technologies remains the largest ETH treasury holder, boosting its stash to 833,100 ETH in the past month.
That represents a 410.68% increase in its holdings, making it the first corporate entity to own more than $3 billion worth of Ether.
Last Monday, BitMine purchased 208,137 ETH, bringing its total to 833,100 ETH.
At the time of purchase, the holdings were valued at around $2.9 billion, when ETH traded near $3,700.
With ETH now near $4,300, BitMine’s reserves are worth more than $3.58 billion.
SharpLink and Ether Machine Expand Positions
Digital asset investment firm SharpLink Gaming has also been aggressive in its ETH accumulation.
The company bought 83,562 ETH last Tuesday, pushing its total to 521,900 ETH — a 141.69% increase in the past month.
At the time of purchase, SharpLink’s ETH was valued at roughly $1.91 billion.
Today, its holdings exceed $2.23 billion, with $671 million in unrealized gains, according to data from the Strategic ETH Reserve (SER).
The third-largest holder, The Ether Machine, made two notable acquisitions in early August.
On August 3 — coinciding with Ethereum’s 10th anniversary — it bought 15,000 ETH.
It followed with another 10,600 ETH purchase on Sunday, bringing its total to 345,362 ETH, valued at almost $1.5 billion.
Top 10 Firms Control Majority of Corporate ETH
The combined holdings of the top 10 ETH treasury entities amount to 2.63 million ETH, or about 2.63% of Ether’s total supply.
This group’s collective reserves are now worth more than $11.3 billion.
Three companies — BitMine, SharpLink, and The Ether Machine — hold more than half of that amount.
Smaller Purchases Add to Market Momentum
While the largest treasuries dominate the market, smaller acquisitions also contributed to the surge.
On Friday, Hong Kong-listed IVD Medical disclosed that it purchased HK$149 million (about $19 million) worth of ETH via the HashKey exchange.
The exact number of ETH acquired was not revealed.
Institutional Confidence in ETH Growing
Overall, 64 companies tracked by SER now hold ETH in their treasuries.
Their combined 3.04 million ETH position reflects growing institutional confidence in Ethereum’s long-term prospects.
The latest buying spree coincides with ETH breaking above the $4,300 level for the first time in over three years, reinforcing Ethereum’s position as the second-largest cryptocurrency by market capitalization.