Ethereum Surges 5.68% as Corporate Treasuries Add 1.35 Million ETH

• Ethereum jumped 5.68% to $3,682.93 after three major companies bought over 1.35 million ETH. 

• BitMine now holds 833,000 ETH worth $2.9 billion and aims to acquire 5% of all circulating tokens. 

• Ethereum dominates DeFi with 90% of real-world assets and processes over $170 billion in decentralized exchange volume.

Ethereum rallied to $3,682.93 on Tuesday, marking its strongest intraday performance over two weeks. The second-largest cryptocurrency gained 5.68% from its opening price near $3,489, driven by massive institutional acquisitions totaling more than 1.35 million ETH across three major treasury companies.

The price action saw ETH break through multiple resistance levels, surging past $3,550 before stalling briefly. A second wave pushed the token above $3,600, with momentum carrying it beyond $3,650 to session highs above $3,700. The rally positions Ethereum for a potential retest of the psychological $4,000 level.

BitMine Leads Ethereum Treasury Expansion

BitMine emerged as the driving force behind Tuesday’s surge, cementing its position as the world’s largest Ethereum treasury holder. The company acquired over 833,000 ETH in just 35 days, with its latest purchase completed at an average price of $3,491.86. BitMine’s total holdings now exceed $2.9 billion in ETH value.

Company Chairman Tom Lee revealed ambitious plans to acquire 5% of all circulating ETH. The rapid accumulation strategy focuses on long-term value creation through staking and yield generation. Early Strategy investor Bill Miller III has taken a significant stake in BitMine, comparing the firm’s approach to Michael Saylor’s Bitcoin treasury strategy from 2020.

Ether Machine and SharpLink Boost Holdings

The Ether Machine expanded its position by 10,605 ETH worth $40 million, purchased at an average price of $3,781. The acquisition brings the company’s total holdings to 345,362 ETH, funded through a recent $97 million private placement. Chairman Andrew Keys emphasized the firm’s mission to strengthen Ethereum’s capital base through active staking and restaking operations.

SharpLink Gaming made the third major purchase, acquiring 18,680 ETH valued at $66.6 million through Galaxy Digital OTC. The transaction brings SharpLink’s Ethereum treasury to approximately $1.8 billion, making it the second-largest public holder behind BitMine. The company began accumulating during the August 1 market dip.

David Walsworth, Enterprise Lead of the Ethereum Foundation, highlighted the network’s dominance across key metrics. Ethereum and its Layer 2 networks now represent 90% of real-world assets, while decentralized exchanges process over $170 billion in volume on the platform.

The network hosts over 60% of all stablecoins and maintains a DeFi ecosystem nine times larger than any competitor. With 10 years of uptime and 1.1 million validators, Ethereum’s decentralization and liquidity advantages continue attracting corporate treasury allocations.