Since Monday, 16 companies have either declared intentions to buy crypto or announced fundraising plans geared toward digital asset accumulation, with Ether being the most sought-after.
More than $3 billion worth of ETH has been bought or committed to by just five public firms—roughly 45 times the amount of ETH newly issued this week. The surge marks a rising trend of corporate entities, especially from traditional finance backgrounds, adopting digital asset strategies amid limitations in directly accessing crypto exchange-traded products.
Ethereum Steals the Spotlight Amid Corporate Shift
Bitcoin miner BTCS Inc. led this week’s Ethereum charge, filing plans on Tuesday to raise up to $2 billion for ETH purchases.
Joe Lubin’s Sharplink Gaming, already among the largest Ethereum treasury firms, added $338 million worth of ETH across two major transactions earlier this week. Another player, The Ether Machine, acquired 15,000 ETH—valued at approximately $57 million—adding to the bullish ETH momentum.
Additionally, two firms underwent full-scale rebranding to reflect their new crypto ambitions. Biotech firm 180 Life Sciences Corp has now become ETHZilla Corporation following a $425 million pivot toward Ethereum. Meanwhile, merchant bank Fundamental Global rebranded to FG Nexus, dedicating $200 million to ETH acquisition.
Altcoins in Treasury Crosshairs
Meanwhile, a host of altcoins also saw demand. Tron Inc., now controlled by Justin Sun’s blockchain venture, revealed plans to raise $1 billion to acquire TRX tokens. Three other companies showed interest in tokens like Solana, Sui, and BNB.
One standout was CEA Industries, a Canadian vape company repurposed into a BNB-focused treasury firm after a takeover by 10X Capital and YZi Labs. Described as the family office of Binance co-founder Changpeng Zhao, the firm aims to raise between $500 million and $1.25 billion to purchase BNB.
Tech firm Cemtrex Inc. entered the Solana market with a $1 million purchase and ambitions to grow that to $10 million. Meanwhile, Mill City Ventures III sealed a $450 million pivot to Sui token investments.
Bitcoin Not Behind
Bitcoin wasn’t left behind. Seven companies committed or proposed a combined $2.7 billion worth of BTC purchases. Strategy led with a $2.5 billion raise and the acquisition of 21,021 Bitcoin.
Others include The Smarter Web Company with $26.5 million spent on 225 BTC, and Metaplanet, which bought 780 BTC for $92 million. ZOOZ Power Ltd., an energy firm, also entered the scene with a $180 million Bitcoin strategy.
Still, analysts like Galaxy Research’s Will Owens warn of valuation risks, noting that investors often apply significantly different premiums based on a company’s crypto holdings.
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