Monday marked a major day for corporate crypto adoption as three public companies announced treasury expansions. BitMine Immersion Technologies, Verb Technology, and Sequans Communications all revealed new digital asset purchases.
BitMine achieved a milestone by crossing $3 billion in Ether holdings. The company added 208,137 ETH over the past week, bringing total holdings to 833,137 ETH.
Bitmine exceeds 833,000 $ETH worth $2.9B becoming the largest Ethereum Treasury on the planet.
Bitmine is also now the 42nd most liquid US stock trading $1.6B in volume daily. pic.twitter.com/FMvw5khyVY
— amit (@amitisinvesting) August 4, 2025
The purchase makes BitMine the world’s largest corporate Ether holder. This positions the company as the fourth-largest crypto treasury firm globally, behind Strategy, MARA Holdings, and Twenty One Capital.
BitMine launched its Ethereum treasury strategy just 35 days ago. The rapid accumulation sparked competitive activity among other treasury firms pursuing similar strategies.
The company is chaired by Fundstrat chief investment officer Tom Lee. BitMine has secured backing from several prominent investors including Bill Miller III, Stanley Druckenmiller, and ARK Invest CEO Cathie Wood.
BitMine’s stock trades with daily volume averaging $1.6 billion. This makes it the 42nd most liquid stock among U.S. companies by trading volume.
The company aims to acquire 5% of Ether’s total supply. Future plans include staking operations to generate yield-based returns from the holdings.
Verb Technology announced a different approach with Toncoin. The company revealed a $558 million private placement to establish the first publicly listed Toncoin treasury.
Verb will rebrand as TON Strategy Co. following the transaction. The deal involves partnerships with over 110 institutional and crypto-native investors including Vy Capital, Blockchain.com, and Ribbit Capital.
Kingsway Capital is anchoring the private placement. The transaction positions Verb to capitalize on Telegram’s integration of TON across its platform ecosystem.
New leadership includes TON Foundation President Manuel Stotz and Blockchain.com CEO Peter Smith. The deal is expected to close by August 7.
Sequans Communications took a more modest approach with Bitcoin. The France-based 5G/IoT chipmaker purchased 85 additional BTC for $10 million.
This brings Sequans’ total Bitcoin holdings to 3,157 BTC. The company views Bitcoin as a long-term treasury reserve asset and continues strategic accumulation.
Stock reactions varied across the announcements. BitMine shares gained 6% while Verb surged 65% on its Toncoin strategy news.
Sequans saw a 1% increase following its Bitcoin purchase announcement. Meanwhile, Toncoin dropped 8% despite Verb’s treasury commitment.
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