The post BitMine to raise $24.5B, Sharplink completes $389M stock sale appeared on BitcoinEthereumNews.com.

The corporate Ether acquisition race is accelerating as the world’s two largest Ether treasury firms are raising capital to acquire more of the world’s second-largest cryptocurrency, which is nearing its previous all-time high. Public Bitcoin (BTC) mining firm BitMine Immersion Technology is looking to raise $24.5 billion through a new at-the-market (ATM) stock sale offering to acquire more Ether (ETH) tokens, according to a Tuesday US Securities and Exchange Commission filing. BitMine’s SEC filing. Source: SEC.gov BitMine’s offering comes the same day as corporate crypto treasury firm SharpLink completed a $389 million capital raise from common stock shares sold for select institutional investors, according to another SEC filing. “We intend to contribute substantially all of the cash proceeds that we receive to acquire ETH,” the filing said. Part of the $389 million net proceeds will also be used for “working capital needs, general corporate purposes, operating expenses, and core affiliate marketing operations,” SharpLink said. SharpLink’s SEC filing. Source: SEC.gov SharpLink has raised about $1.4 billion in gross proceeds to date from more than 71.5 million shares sold, the filing shows. Top 10 Ether treasury firms. Source: StrategicEthReserve.xyz Bitmine is the world’s largest corporate holder of Ether with 1.2 billion ETH worth $5 billion on its books, followed by SharpLink with 598,000 Ether worth $2.64 billion, data from StrategicEthReserve shows. BitMine previously announced plans to acquire up to 5% of Ether’s supply. Related: Corporate crypto treasury holdings top $100B as Ether buying accelerates Ether nears all-time high amid growing corporate adoption Corporations and publicly traded firms are increasingly adopting Ether as a secondary treasury reserve asset, which saw the Ether price rise over 21% during the past week, to trade at $4,408 at the time of writing. Ether is now trading 9% below its old all-time high of 4,890 recorded in…

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Filed under: News - @ August 13, 2025 9:22 am