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The total Ether held by companies with crypto treasuries has risen to 3.04 million ETH, worth $13 billion, as the cryptocurrency’s price surged past $4,300.
On Monday, Ether (ETH) climbed to $4,332, surging by 20.4% in the last seven days, according to CoinGecko. At the time of writing, ETH had dropped slightly and was sitting at $4,290. The ETH rally is fueled by companies increasing their holdings in the last 30 days.
BitMine Immersion Technologies, which tops the list of ETH treasury holders, boosted its holdings to 833,100 ETH, a 410.68% jump in the amount of ETH it holds over the past 30 days.
SharpLink Gaming followed with 521,900 ETH after boosting its treasury by 141.69% in the same time period, while The Ether Machine has grown its stack by 8.01% to 345,400 ETH.
These three entities accounted for more than half of the ETH held by the top 10 ETH treasury companies, which had a combined 2.63 million ETH, about 2.63% of the asset’s total supply.
Top 10 ETH treasury entities hold over $11.3 billion
The week’s price surge pushed the value of corporate ETH holdings sharply higher.
Last Monday, BitMine bought 208,137 ETH, putting its holdings at 833,100 ETH. At the time, the assets were worth about $2.9 billion as ETH hovered around $3,700.
With ETH trading at around $4,300, BitMine’s holdings are now worth over $3.58 billion, making it the first company to hold more than $3 billion in ETH.
On Tuesday, digital asset investment firm SharpLink boosted its holdings to 521,900 ETH after an 83,562 ETH purchase.
At the time, SharpLink’s holdings were worth about $1.91 billion. With ETH’s prices surging past $4,300, the company’s ETH is now worth over $2.23 billion.
ETH treasury data tracker Strategic ETH Reserve (SER) showed that SharpLink Gaming has over $671 million in unrealized gains from its Ether investments.
Related: ‘Mysterious institution’ buys almost $1B worth of Ether in week
On Aug. 3, The Ether Machine bought 15,000 ETH, coinciding with Ethereum’s 10th anniversary. According to SER data, it added another 10,600 ETH to its treasury on Sunday. It now holds 345,362 ETH worth almost $1.5 billion, keeping it in the top three by holdings.
Apart from the top companies, smaller purchases were also made last week. On Friday, the HashKey exchange announced that Hong Kong-listed IVD Medical purchased HK$149 million (about $19 million) in ETH from the trading platform. However, the actual ETH amount was not disclosed.
Overall, SER data shows that 64 treasury companies that hold ETH have a total of 3.04 million ETH, worth over $13 billion at current market prices.
Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’