TLDR
- The Ether Machine purchased 15,000 ETH worth $56.9 million, bringing total holdings to 334,757 ETH
- SharpLink Gaming bought $43 million worth of ETH, adding 11,259 tokens to reach 449,276 ETH total
- The Ether Machine now holds more ETH than the Ethereum Foundation’s 234,000 tokens
- Corporations are buying Ether at twice the pace of Bitcoin according to Standard Chartered
- Crypto treasury firms have acquired 1% of Ethereum’s total supply since early June
The Ether Machine completed a $56.9 million purchase of 15,000 ETH on Wednesday, resuming its accumulation strategy. The purchase was made at an average price of $3,809 per token.
The Ether Machine bought $56,900,000 $ETH.
They're now the 3rd-largest corporate Ethereum holder. pic.twitter.com/kKFjWtrgKj
— Ted (@TedPillows) July 31, 2025
SharpLink Gaming followed with its own major acquisition on Thursday. The company spent $43.09 million USDC to buy 11,259 ETH at an average price of $3,828.
UPDATE šØ
SharpLink Gaming has acquired an additional 11,259 Ethereum for ~$43M, bringing its total holdings to 449,276 $ETH. š¦š° pic.twitter.com/uBtW24lXG6
— Moby Media (@mobymedia) July 31, 2025
The Ether Machine’s latest purchase brings its total holdings to 334,757 ETH. Company chairman Andrew Keys said the timing coincided with Ethereum’s 10-year anniversary.
“We couldn’t imagine a better way to commemorate Ethereum’s 10th birthday than by deepening our commitment to Ether,” Keys stated. He added that the company was “just getting started.”
The Ether Machine was formed through a business combination between The Ether Reserve and Nasdaq-listed Dynamix Corp. The deal is expected to close in Q4 and would see the firm go public under ticker ETHM.
The company targets a $1.6 billion raise through this public listing. It maintains $407 million in reserves for future ETH purchases.
Corporate ETH Holdings Rankings
With its latest purchase, The Ether Machine becomes the third-largest corporate holder of ETH. The company now holds more tokens than the Ethereum Foundation’s reported 234,000 ETH.
Only Bitmine and SharpLink Gaming hold larger amounts according to StrategicETHReserve data. SharpLink’s Thursday purchase brought its total to 449,276 ETH worth approximately $1.73 billion.
Keys also donated $100,000 to the Protocol Guild during this period. The initiative supports Ethereum’s core developers and has distributed millions to over 150 contributors.
Ray Youssef, CEO of NoOnes, commented on institutional interest in Ethereum. He said institutions view it as foundational infrastructure for digital finance rather than just a smart contract platform.
Corporate Buying Trends
Standard Chartered reports that corporations are accumulating Ether at twice the pace of Bitcoin. This trend has accelerated since early June 2024.
Crypto treasury firms have acquired 1% of Ethereum’s total supply in recent months. This buying pressure has contributed to ETH’s recent price performance.
The bank notes strong inflows into US spot Ether ETFs alongside corporate purchases. These factors support the token’s rally and could push prices above Standard Chartered’s $4,000 year-end forecast.
ETH remains over 20% below its all-time high of $4,890 despite recent gains. Standard Chartered expects treasury firms to eventually control up to 10% of total ETH supply.
The bank cites staking and DeFi opportunities as drivers for corporate ETH accumulation. These features give Ether advantages that Bitcoin-focused firms cannot access.
SharpLink Gaming’s Thursday purchase of 11,259 ETH for $43.09 million represents the most recent major corporate acquisition in the space.
