Corporate ETH treasuries are public companies and institutions that hold ether as a primary reserve asset on their balance sheets. The model adapts the Bitcoin treasury playbook pioneered by MicroStrategy to Ethereum, with one structural difference: ETH can be staked, so treasuries can earn native yield on their holdings rather than holding a static reserve.
The trend has reshaped Ethereum's ownership structure. Public companies and trusts now hold millions of ETH, with BitMine Immersion Technologies leading every other corporate holder by a wide margin. This page tracks ETH Daily's coverage of the largest holders and the milestones that built their positions.
A corporate ETH treasury locks supply into long-term institutional hands and signals balance-sheet conviction in Ethereum as a reserve asset. Because ether is a productive asset, treasuries can stake their holdings for yield, deploy into DeFi, or use staking infrastructure to compound returns over time.
The structure also creates an equity wrapper around ETH exposure. Public market investors gain access to ether through regulated shares, and treasury companies can raise capital through preferred stock and other offerings to expand their positions.
BitMine Immersion Technologies is the world's largest corporate holder of ether and the most active accumulator ETH Daily tracks. Its position grew from a few hundred thousand ETH to over five million in under a year.
BitMine reveals a $500m ETH treasury after purchasing 163,142 ETH, joining the Strategic ETH Reserve as the fourth-largest holder.
BitMine's ETH holdings top $2 billion at 566,776 ETH, making it the largest corporate holder of ether.
BitMine unveils a 1.5m ETH treasury worth over $6.1 billion, cementing its lead among corporate holders.
BitMine crosses the 5 million ETH milestone, holding 5,078,386 ETH worth approximately $12 billion with 73% staked through MAVAN.
BitMine files a preferred stock offering at a 9.5% yield, a preliminary prospectus for 3 million shares of Series A Perpetual Preferred Stock targeting $300m to stake via MAVAN.
BitMine makes its largest weekly ETH purchase of 2026, buying 126,971 ETH and pushing holdings to 5.54 million ETH, or 4.59% of supply.
Beyond BitMine, a growing set of public companies and institutions have built or pivoted to Ethereum treasuries.
Bit Digital pivots to Ethereum, accumulating 100,603 ETH and moving its corporate treasury from Bitcoin to ether.
Consensys and Joseph Lubin commit 30,000 ETH, adding to the institutional accumulation alongside the DeFi United funding round.
What separates an ETH treasury from a Bitcoin treasury is yield. Staked ETH earns a native return, so corporate holders can stake the majority of their balance sheet and compound it rather than holding a static asset. BitMine routes the bulk of its treasury through MAVAN, the staking vehicle named in both the 5 million ETH milestone and its preferred stock offering.
Capital raises fund the accumulation. The 9.5% preferred stock offering illustrates the model: raise fixed-cost capital, deploy it into ETH, and stake to cover the dividend and beyond.
Corporate ETH treasuries concentrate several risks. Holdings are large enough that a single seller can move the market, and disclosures show how much supply sits with a handful of companies. BitMine's 5.54 million ETH alone represented 4.59% of total supply at its largest weekly buy of 2026.
Staking adds smart contract and validator risk on top of price risk, and capital raises such as the preferred stock offering introduce a fixed dividend obligation that must be serviced regardless of ETH's price. Leverage that works in a rising market can compound losses in a falling one.
This is an evergreen reference page that ETH Daily updates as new treasury milestones publish. Each entry links to the full single-story coverage. For the latest developments, follow ETH Daily or check the most recent issues.
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