Publicly traded firms are racing to accumulate Ethereum, now holding over 3.7 million ETH valued at nearly $17 billion. Leading this trend is BitMine Immersion Technologies, which has amassed 1.7 million ETH worth about $8 billion, following an aggressive strategy to expand its ETH treasury. SharpLink Gaming follows as the second-largest holder with 797,704 ETH, bolstered by leadership ties to Ethereum co-founder Joe Lubin. The Ether Machine, Coinbase, Bit Digital, and ETHZilla rank next, with ETHZilla recently transitioning from a biotech focus to crypto, accumulating over 102,000 ETH. The landscape illustrates a growing institutional acceptance of Ethereum, echoing the prior trend with Bitcoin. These firms' strategic reserves represent a notable portion of the overall ETH supply, signaling a shift in how traditional companies view and leverage cryptocurrency assets.

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