In This Article
Ethereum (ETH) is not just the second-largest cryptocurrency by market capitalization — it’s also becoming a strategic reserve asset for public companies. In 2026, corporate Ethereum treasuries have surged as firms accumulate ETH to diversify balance sheets, support staking yields, and offer investors regulated exposure to blockchain growth. According to tracked public filings, corporate entities collectively hold over 6.1 million ETH, worth almost $19 billion.
This article explores the largest Ethereum treasury companies in 2026, what each business does, and how much ETH they hold:
- BitMine Immersion Technologies, Inc. – Ethereum-focused treasury, large-scale staking, long-term digital asset accumulation strategy.
- SharpLink Gaming Ltd. – Gaming tech firm, ETH treasury, on-chain staking, multi-year yield program.
- The Ether Machine (ETHM) – Dedicated Ethereum treasury, institutional holder, focused long-term appreciation strategy.
- Bit Digital, Inc. – Blockchain infrastructure pivot, ETH holdings, diversified corporate crypto treasury strategy.
- Coinbase Global, Inc. – Major crypto exchange, institutional ETH treasury, regulated balance-sheet exposure.
1. BitMine Immersion Technologies, Inc.
Overview
BitMine Immersion Technologies (Nasdaq: BMNR) originally focused on Bitcoin mining infrastructure but pivoted sharply to an Ethereum treasury strategy in 2025. The company’s transformation has made it the largest corporate ETH holder on public markets.
Ethereum Holdings (2026)
~4,167,768 ETH held on the company’s balance sheet.
Represents roughly ~3.45 % of circulating supply tracked among corporate holders.
Why It Matters
BitMine’s strategy revolves around acquiring and staking large amounts of ETH to generate yield and capture long-term growth. BitMine has been described as playing a role similar to MicroStrategy’s Bitcoin strategy but focused on Ethereum, and it plans to accumulate up to 5 % of total ETH supply over time.
(Source: CoinGecko)
2. SharpLink Gaming Ltd.
Overview
SharpLink Gaming (Nasdaq: SBET) is a sports betting and fantasy technology firm that also uses digital assets strategically. While its core business focuses on gaming tech, SharpLink has been aggressively acquiring Ether for its treasury.
Ethereum Holdings (2026)
~863,840 ETH — one of the largest single public-company treasuries.
Strategic Approach
Rather than just holding, SharpLink also deploys parts of its ETH into on-chain yield strategies. For example, the company staked around $170 million worth of ETH as part of a multi-year treasury yield program.
3. The Ether Machine (ETHM)
Overview
The Ether Machine is a public entity whose business centers on acquiring and managing Ethereum as a treasury asset, positioning itself as a core institutional ETH holder.
Ethereum Holdings (2026)
~496,712 ETH reported.
Business Model
While not as large as BitMine or SharpLink, The Ether Machine still has a very focused treasury playbook in which executives commit capital into ETH for long-term appreciation and staking rewards.
4. Bit Digital, Inc.
Overview
Bit Digital (Nasdaq: BTBT) is a blockchain infrastructure firm that historically mined digital assets and has transitioned part of its strategy to holding ETH as a corporate reserve.
Ethereum Holdings (2026)
~153,546 ETH held as part of its diversified crypto treasury.
Strategic Notes
Bit Digital’s ETH holdings are smaller relative to peers but still significant among publicly traded treasury companies.
5. Coinbase Global, Inc.
Overview
Coinbase (Nasdaq: COIN) is one of the largest cryptocurrency exchanges in the world, offering trading, custody, and staking services. The company’s ETH holdings show institutional balance-sheet exposure rather than purely operational assets.
Ethereum Holdings (2026)
~148,715 ETH — reported under “crypto assets held for investment.”
Context
Coinbase also manages large amounts of ETH on behalf of users, but only its own treasury holdings are counted here.
What This Means for Investors & Ethereum
Collectively, publicly traded companies now hold millions of ETH across their treasuries — and when combined with institutional products and private firms the totals scale even higher. Overall, this trend proves that there is growing acceptance of digital assets by mainstream capital markets, offering investors both direct and indirect exposure to Ethereum’s long-term ecosystem growth.
