BitMine's five-week purchase of 833,000 ETH makes it the largest corporate coin hoarding whale, as the Ethereum institutional coin hoarding battle intensifies.

The cryptocurrency giant BitMine Immersion Technologies has astonishingly accumulated 833,137 ETH (worth approximately $2.9 billion) in just five weeks, surpassing all listed companies to become the world's largest enterprise-level Ethereum whale. Its holdings now account for 0.7% of the total circulating supply of Ethereum, with a long-term target of 5%. This aggressive Ethereum accumulation strategy has been enthusiastically embraced by investors, leading to a surge in stock trading volume, with institutions like ARK Invest continuously increasing their positions, as the prospects for Ethereum staking rewards are seen as a core driving force.

[In five weeks, 830,000 ETH swallowed by Whales, topping the corporate holdings list] BitMine Immersion Technologies is executing one of the most aggressive Ethereum accumulation strategies in the cryptocurrency space. According to its announcement released on August 4, the company accumulated an astonishing 833,137 ETH in just five weeks, worth up to $2.9 billion at current market prices. This massive Holdings has surpassed all other publicly listed companies, making it the world's largest single enterprise-level Ethereum holder, a true institutional coin Whale.

[Lightning speed to accumulate coins, aiming for a 5% circulation target] The company only launched its ETH accumulation plan in late June, yet achieved this milestone at an astonishing speed, increasing its holdings by nearly 24,000 ETH per day. At the current price, its Ethereum treasury accounts for about 0.7% of the total circulating supply of Ethereum. BitMine clearly stated that its goal is to eventually hold 5% of the circulating supply of this asset.

Thomas Lee, Chairman of the BitMine Board, stated: "BitMine is advancing its '5% Ethereum Alchemy' goal at lightning speed, increasing our ETH Holdings from zero to over 833,000 in just 35 days. Whether in the speed of enhancing the net asset value (NAV) per share of Crypto Assets or in the high liquidity of our stock, we have stood out among our peers in Crypto Assets reserves."

【Why Heavily Bet on Ethereum? Staking Returns Become Core】 BitMine's aggressive Ethereum holdings strategy seems to be driven by a firm belief that staking will soon become one of the most reliable sources of income in the digital market. Chairman Thomas Lee emphasized in the announcement that once staking is initiated, BitMine's profit model will undergo a significant transformation, which will greatly enhance shareholder value, mirroring Michael Saylor's successful path (referring to the strategy of heavily investing in Bitcoin). The market generally has a positive outlook on the long-term potential of Ethereum staking rewards.

[Investors are enthusiastic, stock trading volume rivals blue chips, institutions continue to increase the position] Investors clearly resonate with this vision. According to the announcement, BitMine's stock (ticker: BMNR) has become one of the most actively traded stocks in the U.S., with an average daily trading volume of up to $1.6 billion over the past five days, with trading activity comparable to blue-chip stocks like Uber.

At the same time, well-known investment institutions are continuing to increase their stakes: earlier this month, entities related to Peter Thiel acquired 9.1% of BitMine's shares; meanwhile, ARK Invest, led by Cathie Wood, is rapidly increasing its holdings of BMNR stocks.

Just last week, ARK invested another $17 million in BMNR stocks through its flagship ETF, just four days after it had purchased $20 million. Even earlier, the purchase amount reached an astonishing $182 million a week prior. This wave of institutional buying of coin concept stocks highlights the confidence of large institutions in BitMine's steadfast execution of its Ethereum accumulation strategy, while other companies may be hesitant.

【Max Competitor Holdings Dynamics: SharpLink Close Behind】 Meanwhile, BitMine's closest competitor in the enterprise Ethereum accumulation space, SharpLink, increased its position by adding $54 million worth of ETH on August 3, bringing its holdings to 480,031 ETH, valued at approximately $1.65 billion. The competitive landscape for enterprise-level Ethereum hoarding has already taken shape.

Conclusion: BitMine is devouring Ether at an unprecedented speed, not only reshaping the corporate holdings leaderboard but also pushing institutions' bets on Ethereum's staking yields to a climax. As giants like ARK continue to increase the position in their stocks, the "institutional coin hoarding narrative" and "staking yield potential" of Ethereum are becoming new focal points driving the market, and the competition for enterprise-level ETH is expected to heat up further.