Corporate Ether buying accelerates as BitMine and SharpLink raise cash, with ETH nearing record highs and institutions targeting a larger share of supply.
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 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.
