According to CoinGecko’s July 2025 report, public companies are holding a total of 1,002,666 Ethereum (ETH) 
$2,486, with a market value exceeding 3.70 billion dollars. The report highlights the growing diversification within company treasuries, signaling a fast-changing landscape in corporate investment strategies. At the forefront is SharpLink Gaming, possessing 360,807 ETH, followed by Bitmine Immersion with 300,657 ETH, and Coinbase with 137,300 ETH. This trend reflects a strategic shift from Bitcoin 
$78,526 to Ethereum, driven by the latter’s increasing staking rewards and the 2024 approval for Ethereum ETFs.
SharpLink and Bitmine Leading the Race
SharpLink Gaming, based in Minneapolis, acquired its 360,807 ETH at an average price of $2,864 per Ethereum, raising its input costs from $1.03 billion to $1.33 billion. The company has staked 95% of its ETH holdings, designating cryptocurrency as the central reserve of its treasury. Despite short-term volatility, SharpLink has managed to earn a 29% unrealized profit, underscoring its strategic foresight.
In second place is Bitmine Immersion, led by Fundstrat co-founder Tom Lee, who converted mining proceeds into 300,657 ETH. The company’s portfolio, initially built with $977.3 million, is now valued at $1.11 billion. This 14% unrealized profit represents a pivotal motivator towards their long-term goal of accumulating 6 million ETH.
Both companies utilize ETH not only as a treasury asset but also for operating nodes and providing liquidity. Constant staking returns enhance operational cash flow, while Ethereum’s deflationary nature supports long-term asset retention.
Strategies and Achievements of Other Public Companies
Coinbase Global, holding 137,300 ETH, controls 13.7% of publicly listed company assets. Maintaining a $507.3 million purchase cost, the crypto exchange manages to stabilize its market valuation amidst market fluctuations. Bit Digital stands out with a drastic value increase of 86%, with 120,306 ETH assets growing from $239.3 million to $444.5 million.
The list concludes with BTCS holding 55,788 ETH, GameSquare’s media-focused investment of 10,170 ETH, and Intchains Group’s strategic 7,023-ETH treasury. Exodus, KR1, and BTC Digital together own 10,150 ETH, contributing to 1,002,666 ETH altogether, which is 0.83% of Ethereum’s supply. Ethereum’s transition to Proof of Stake (PoS) and approval of spot ETFs in 2024 have heavily spurred corporate interest, benefiting ETH holdings during July’s rally.
Experts predict more companies will start acquiring ETH for treasury diversification, initiating a new phase of corporate rebalancing that directly rivals Bitcoin in asset distribution.
