TLDR
- BitMine, the largest publicly traded ETH holder, added more to its bags.
- Strategy bought more BTC. Why? Because that’s what they do.
- Upexi and BIT Mining increased Solana holdings substantially.
Corporate crypto treasuries are still running full throttle. And honestly, these guys seem to have no end to their buying spree. It’s like every day is Black Friday at Best Buy.
From ETH to BTC to SOL, the big guns of finance spared no expense this week. Lots to talk about, so let’s get after it.
BitMine Still Full Ethereum Maximalist
BitMine Immersion (BMNR) is making a treasury statement that would make even the most hardcore crypto bros blush. They’re now sitting on over 2 million ETH, worth about $8.9 billion, making them the world’s largest Ethereum treasury holder. They’ve got more ETH than some small countries have in their entire GDP. Even more ETH than SharpLink. And that’s saying a lot.
BitMine’s Chairman Tom Lee called it the “alchemy of 5%” strategy, aiming to own 5% of all Ethereum. When you consider there’s only about 120 million ETH in circulation, that’s… “ambitious” doesn’t even begin to cover it.
The company’s total crypto holdings now exceed $9.21 billion, which puts them at number two globally behind Strategy’s Bitcoin hoard.
Strategy Still Can’t Stop Buying Bitcoin
Michael Saylor’s company added another 1,955 Bitcoin to its collection this week, spending $217.4 million. Their total stash now sits at 638,460 BTC, worth approximately $74 billion at current prices. At this point, we don’t think they know how to stop.
However, they’ve actually slowed down their buying compared to previous months. In July, they bought over 31,000 Bitcoin. This month? Less than 8,000. Either they’re running out of cash to throw at Bitcoin, or they’re being more strategic about their purchases.
Solana Gets Some Corporate Love
While everyone has been obsessing over Bitcoin and Ethereum, Solana has been quietly attracting some corporate attention too. Two companies made moves this week that show SOL is getting respect in boardrooms.
Upexi’s Solana Success Story
Upexi (UPXI) announced its Solana treasury is now worth $447 million, with an unrealized gain of $142 million. That’s a 46% gain on their investment, which is the kind of return that makes traditional finance folks very, very jealous — and stockholders very, very happy.
They’re holding over 2 million SOL tokens and earning about $105,000 per day just from staking rewards. Yes — they’re making six figures daily just by holding their crypto. That’s why we love staking. About 53% of their SOL was bought at a discount when it was locked, giving them built-in profits.
BIT Mining Joins the SOL Party
BIT Mining (soon to be renamed SOLAI Limited) added 17,221 SOL to their treasury, bringing their total to over 44,000 SOL worth about $9.95 million. They’re also running Solana validators, which means they’re helping secure the network while earning rewards.
Wall Street Loves Crypto
Here’s what’s really happening behind all these massive purchases: traditional finance is finally taking crypto seriously. BitMine’s Tom Lee compared current crypto adoption to when the US ended the gold standard in 1971 — a moment that transformed Wall Street forever.
The recently passed GENIUS Act and the SEC’s Project Crypto are creating regulatory clarity that makes it easier for companies to hold digital assets. This isn’t just about speculation anymore. It’s about fundamental changes to how money and value work.
What Corporate Crypto Holdings Tell Us
When companies put hundreds of millions or billions into these corporate crypto treasuries, they’re making calculated bets on:
- Inflation protection: Digital assets as a hedge against currency devaluation
- Growth potential: Belief that crypto adoption will continue expanding
- Diversification: Adding uncorrelated assets to traditional portfolios
- Strategic positioning: Getting ahead of competitors in the digital economy
What This Means for New Crypto Investors
If you’re new to crypto and watching these corporate moves, here are the key takeaways:
Legitimacy is building: When publicly traded companies risk billions on crypto, it signals growing mainstream acceptance.
Diversification matters: One of the most important takeaways is how these companies aren’t just buying Bitcoin. BitMine went heavy on Ethereum, others are exploring Solana. The crypto market is maturing beyond a single asset.
Long-term thinking: These aren’t day trades. Companies are building positions they plan to hold for years, which suggests they see fundamental value, not just price speculation.
Regulatory clarity helps: As governments create clearer rules, more companies will likely follow suit.
Will the Corporate Crypto Trend Continue?
We have no idea. But it would be real cool if it did. However, the corporate crypto treasury trend shows no signs of slowing down as far as we can tell. As more companies see positive returns and regulatory frameworks solidify, expect more announcements like these.
For crypto users, corporate adoption serves as a form of validation. When Fortune 500 companies and publicly traded firms risk their balance sheets on digital assets, then crypto has moved beyond speculative investment into strategic asset allocation.
The question isn’t whether more companies will adopt crypto treasuries — it’s which ones will be next and how big their positions will be. Keep watching the headlines; this story is just getting started.
That being said, not all that glitters is gold. Some of these companies are struggling businesses with bad fundamentals using the crypto treasury narrative to try to stay afloat. It may be TradFi, but due diligence is still imperative. Good luck out there. Be safe. And happy hodling.
About the Author
