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By James Van Straten|Edited by Oliver Knight
Updated Aug 4, 2025, 2:26 p.m. Published Aug 4, 2025, 2:26 p.m.
- BitMine (BMNR) becomes the world’s largest corporate ether holder with over $2.9B in assets, stock jumps 6%.
- Verb (VERB) launches $558M Toncoin strategy, stock soars 65% while TON drops 8%.
Monday kicked off with a flurry of treasury announcements as major digital asset firms expanded their crypto reserves, underlining the growing institutional embrace of blockchain-native assets.
BitMine Immersion Technologies (BMNR) now holds the world’s largest ether ETH treasury at 833,137 ETH worth over $2.9 billion. Launched just 35 days ago, BitMine’s aggressive ETH acquisition strategy positions it as the third-largest overall crypto treasury behind Strategy (MSTR) and MARA Holdings (MARA), according to the press release.
STORY CONTINUES BELOW
Investor Bill Miller III has taken a significant stake, joining a deep bench of institutional backers including ARK’s Cathie Wood, Kraken, Galaxy, and Pantera.
With daily trading volume averaging $1.6 billion, BMNR ranks 42nd among U.S. stocks by liquidity. BitMine aims to acquire 5% of ETH’s total supply, with future staking plans expected to unlock yield-based profitability. BMNR shares are up 6% on the day.
Verb Technology (VERB) announced a $558 million private placement to establish the first publicly listed toncoin treasury, partnering with Kingsway Capital. The deal is anchored by more than 110 institutional and crypto-native investors including Vy Capital, Blockchain.com, and Ribbit Capital.
Verb will rebrand as TON Strategy Co. (TSC) and acquire toncoin
as its core treasury asset. With Telegram’s full integration of TON across its ecosystem, TSC is positioned to capitalize on crypto adoption within social platforms, according to the press release.
Incoming leaders include TON Foundation President Manuel Stotz and Blockchain.com CEO Peter Smith. VERB stock surged 65% today, while TON fell 8%. The transaction is expected to close by August 7.
France-based Sequans Communications (SQNS), a fabless 5G/IoT chipmaker, announced the purchase of 85 additional BTC for $10 million, bringing its total bitcoin holdings to 3,157 BTC. Sequans sees bitcoin as its long-term treasury reserve and continues to accumulate strategically. SQNS shares are up 1% following the announcement.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
