BitMine and SharpLink are raising over $25 billion to expand Ether treasuries as US debt hits $37 trillion, fueling bullish crypto market sentiment.
The institutional Ethereum treasury race is accelerating, as two of the biggest corporate Ether holders are raising billions of dollars to acquire more of the world’s second-largest cryptocurrency.
Public Bitcoin mining firm BitMine Immersion Technology is raising $24.5 billion through an at-the-market (ATM) stock offering, while SharpLink completed a $389 million capital raise from common shares.
Whales, or large crypto holders, have also been accumulating ahead of this week’s key US inflation reports. A new entity acquired $1.3 billion worth of Ether (ETH) across 10 fresh cryptocurrency wallets, surpassing the record-breaking $1 billion worth of Ether amassed by the exchange-traded funds (ETFs) on Monday.
