The total value of corporate Ethereum 
$2,029 treasuries has surpassed $10 billion. According to Strategic ETH Reserve (SER) data, 64 companies currently hold 2.26 million ETH, valued at $10.58 billion. This amount represents 2.26% of the total ETH coin supply. The latest figures indicate that companies are increasingly incorporating the world’s second-largest cryptocurrency into their balance sheets more aggressively.
Corporate Ethereum Treasuries Break the $10 Billion Threshold
The list provided by SER includes 64 companies such as publicly traded companies, cryptocurrency exchanges, DeFi protocols, nonprofit organizations, and some federal governments. At the top of the list is Bitmine Immersion Tech, leading with 625,000 ETH valued at $2.2 billion. The company has shifted its focus entirely away from Bitcoin 
$74,689 mining to accumulate ETH coins, with Chairman Tom Lee aiming to control 5% of Ethereum’s total supply.
In second place is Joseph Lubin’s SharpLink Gaming, with 438,200 ETH worth $1.69 billion in its treasury. With a recent acquisition of 15,000 ETH, The Ether Machine holds 334,800 ETH, placing third. Thus, the top three corporate treasury holders have surpassed the Ethereum Foundation’s reserve of 234,600 ETH, reshaping power dynamics within the ecosystem.
The Strategic Approach of the Top Three Companies to ETH
Bitmine positions ETH as a long-term reserve asset thanks to staking yields and access to the DeFi ecosystem. Similarly, SharpLink Gaming expands its Ethereum treasury to create diversified income streams. The Ether Machine has highlighted its strategy to “hoard, stake, and support the ecosystem” with its latest purchase.
Standard Chartered Head of Digital Asset Research Geoffrey Kendrick predicts that corporate treasuries could own 10% of ETH’s total supply over time. Bernstein analysts warn that staking models, while profitable, pose liquidity and smart contract risks. It seems that companies must carefully manage the balance between potential gains and technical risks.
