Are Bitmine and SharpLink Becoming Ethereum MicroStrategy?

Bitmine and SharpLink Ethereum Strategy Follow Michael Saylor BTC Plan

According to the crypto market, Ethereum is experiencing an institutional buying flood similar to Michael Saylors' Bitcoin approach. Bitmine (BMNR) and SharpLink (SBET) have become the most successful corporate owners, buying hundreds and thousands within several weeks. Their aggressive approach has sparked debates throughout the crypto community, particularly since their holdings are now in the billions of dollars.

What’s the News

On 4th September 2025, blockchain tracking account EmberCN reported that BMNR received 80,325 Tokens worth about $358 million from institutional trading platforms Galaxy Digital and FalconX. 

With this addition, BMNR's total Ethereum holdings reached 1,947,299, valued at approximately $8.69 billion. This puts Bitmine far ahead of SharpLink, the second-largest Ethereum-holding company, which holds over 876,238 tokens.

Source: X

Weekly Ethereum Purchase of Bitmine

Accumulation history reveals a highly aggressive buying pattern (The Numbers mentioned below are ETH Tokens)

• 17th August 2025: Held 1,523,373 at an average cost of $3,730.

• 24th  August 2025: Increased to 1,713,899, buying 190,523 ($866M) that week.

• 3rd August 2025: Reached 1,866,974 after purchasing 153,075 ($702M).

• 2nd September 2025: Announced an additional purchase of 153,075 ($702M).

• 4th September 2025: Received another 80,325 ($358M), bringing its total to 1,947,299.

Bitmine Ethereum purchase balance increased by over 420,000 within less than three weeks, which demonstrates an insatiable appetite.

Weekly Ethereum Purchase of SharpLink

SBET also competes in the race with the following: (The numbers given below are ETH Tokens)

• 17th August 2025: Held 740,760 at an average cost of $3,478.

• 24th August 2025: Rose to 795,905 after buying 56,533 ($252M).

• 31st August 2025: Reached 837,230 with an additional 39,008 ($176M) purchase.

• 2nd September 2025: Reported a new purchase of 39,008 ($176M).

SharpLink Ethereum Holding is growing at a relatively slower pace than the huge purchases that BMNR makes weekly.

Comparison of Both Companies in Terms of ETH Holding Strategy

BMNR and SBET have different degrees of aggressiveness in their strategies.

Bitmine started buying on July 9, 2025. Within just under two months, it has amassed close to 2 million Tokens, solidifying its status as the largest Ethereum holder.

Sharplink began previously on June 13, 2025, but it has amassed less than half of the total ETH of BMNR.

Bitmine is obviously more aggressive, as it wants to control this treasury market, whereas SBET seems to be accumulating steadily with smaller, regular acquisitions.

Bitmine and SharpLink Following Michael Saylor’s Bitcoin Approach

Both company strategies are similar to the Michael Saylor Bitcoin MicroStrategy. Saylor is famous as the person who managed to make his company the biggest corporate Bitcoin holder. In July and August 2025, MicroStrategy bought more than 34,000 BTC, spending $4.1 billion and taking its total Bitcoin holdings to 632,457 BTC.

Similarly, both companies are placing large bets as a long-term store of value, and disregarding short-term volatility in favor of huge accumulation. Their actions indicate that they believe it will experience the same long-term appreciation trend as Bitcoin.

Conclusion

The SBET is steadily increasing, and the aggressive acquisitions of Bitmine have placed it way ahead, with over twice the ETH of SharpLink. With this rate of increase, the token can soon experience another institutional adoption wave that can define its long-term value curve.