Today marked one of the busiest days in corporate cryptocurrency as companies from New York to Hong Kong announced major Treasury allocations, IPO submissions and strategic acquisitions.
Sharplink revealed that it has obtained 39,008 ether. This is worth around $177 million at the end of August through the market equity program. The company has framed the move as a diversification strategy, leaving the option to immerse its holdings open.
Ether Machine announced a $654 million salary increase, including 150,000 ETH contributions from Ethereum supporter Jeffrey Berns, bringing its holdings to nearly 500,000 ETH. The company plans to merge with Dynamix Corporation to be listed under the ticker ETHM on Nasdaq and actively deploy its assets across staking and decentralized finance.
Meanwhile, Strategy Inc. has added 4,048 Bitcoin worth $449.3 million, boosting its reserves to 636,505 BTC. Gemini has filed for the Nasdaq list under Ticker Gemi, seeking to raise $316.7 million despite reporting a net loss of $282.5 million in the first half.
Blockchain lenders figures also set the criteria for an IPO of $526 million, one of the few profitable crypto adjacent companies on the market. Yunfeng Financial has purchased 10,000 ETH, Bitmine Immersion has disclosed 1.87 million ETH HOLDINGS, and House of Doge Inc. has announced its first formal Dogecoin Treasury in partnership with CleanCore and 21Share.
The surge in activity comes after pivotal regulatory and accounting shifts that lowered barriers to businesses directly retaining crypto. In 2024, the SEC approved spot Bitcoin and ether ETFs, providing registered market exposures that help to justify the company’s adoption.
Around the same time, US accounting rules were updated to enable the handling of the fair value of crypto assets. This means that companies can now reflect profits and losses just as much as balance sheet losses. The withdrawal of SAB 121, which previously restricted the ability of custodians to protect cryptography, further eased institutional participation.
