The firm’s stock sale proceeds continue to flow into Bitcoin, locking in $26.2 billion in paper gains. For Saylor, the playbook hasn’t changed: buy, hold, and wait for monetary debasement to do the rest. This buy-and-hold strategy has made Strategy the poster child for Bitcoin on corporate balance sheets.

On the Ethereum front, Bitmine is quickly asserting dominance. The firm now holds $6.6 billion in Ether, securing its position as the second-largest holder among corporate crypto treasuries. Its stock has become one of the ten most liquid in the US, averaging $6.6 billion in daily trading volume.

Bitmine’s rise signals a broader trend: Ethereum is gaining traction among corporates. SharpLink Gaming and The Ether Machine have also boosted their ETH allocations, pushing corporate crypto treasuries into a more diversified digital asset mix.

This shift could be structural. As Ethereum’s staking yields and smart contract utility continue to outperform, institutional money may begin tilting away from a Bitcoin-only approach. Experts suggest we could see a 60/40 split between BTC and ETH holdings by 2026 if this trend continues.

The implications go beyond price action. With more corporates entering the space, we may see a new wave of products tailored to treasury management: on-chain custody tools, yield optimization strategies, and smart contract insurance.

Moreover, corporate crypto treasuries are becoming a quiet yet powerful force shaping network dynamics. When large entities hold billions in assets, they vote in governance, validate transactions, and contribute to liquidity stability. Their presence is no longer passive it’s infrastructural.

As treasuries scale, regulatory questions will intensify. How do tax authorities treat staking rewards? What disclosures are needed in earnings reports? These questions remain unresolved, but market momentum suggests few are waiting for answers before jumping in.

With treasury strategies expanding across chains, the future of corporate crypto treasuries may be multi-asset by design not default. Bitcoin may still wear the crown, but Ethereum is closing the gap with speed and utility.