Crypto Treasuries Expand as Public Companies Make Bold Monday Moves
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.
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 (TON) 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.
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