The cryptocurrency landscape saw a wave of strategic treasury expansions today as several public companies made significant moves to bolster their crypto reserves. BitMine Immersion Technologies (BMNR), Verb Technology (VERB), and Sequans Communications (SQNS) each announced major developments, signaling the growing institutional embrace of digital assets.
BitMine’s Bold ETH Play
BitMine Immersion Technologies has captured headlines by amassing the world’s largest ether (ETH) treasury, holding a staggering 833,137 ETH valued at over $2.9 billion. Having launched just over a month ago, BitMine’s aggressive ETH acquisition strategy swiftly positions it as the third-largest crypto treasury globally, trailing only behind giants like Strategy (MSTR) and MARA Holdings (MARA). As explored in our recent analysis of Ethereum treasuries, companies holding ETH face unique risks compared to those holding Bitcoin, adding another layer of complexity to BitMine’s strategy.
Bill Miller III, a renowned investor, has taken a notable stake in the company, joining an impressive roster of institutional backers that includes luminaries like ARK’s Cathie Wood, Kraken, Galaxy, and Pantera. “BitMine’s rapid ascent underscores a seismic shift in how traditional institutions are perceiving crypto,” said crypto analyst Jenna Clarke. With an average daily trading volume of $1.6 billion, BMNR stands at the 42nd position among U.S. stocks by liquidity—no small feat for a newcomer.
BitMine’s ambition doesn’t stop at mere acquisition. The company aims to secure 5% of ETH’s total supply, with future plans to leverage staking for yield-based profitability. Investors responded positively, with BMNR shares climbing 6% today. “The potential to unlock staking yields could redefine profitability metrics for crypto treasuries,” noted Clarke.
VERB’s Toncoin Transformation
Meanwhile, Verb Technology announced a $558 million private placement aimed at establishing the first publicly listed toncoin (TON) treasury. Partnering with Kingsway Capital, this initiative is supported by over 110 institutional and crypto-native investors, including Vy Capital, Blockchain.com, and Ribbit Capital. As part of this strategic pivot, Verb will rebrand as TON Strategy Co. (TSC), with toncoin as its core treasury asset. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
This strategic shift aligns with Telegram’s full integration of TON across its ecosystem, which TSC plans to capitalize on as social platforms increasingly embrace crypto. According to the press release, incoming leaders like TON Foundation President Manuel Stotz and Blockchain.com CEO Peter Smith are set to steer TSC into new territories. Market reactions were mixed, with VERB stock surging 65% while TON saw an 8% dip. The transaction is anticipated to close by August 7—a date now circled on many investors’ calendars.
Sequans’ Steady Bitcoin Bet
On the European front, France-based Sequans Communications announced its purchase of an additional 85 bitcoin for $10 million, enhancing its total bitcoin holdings to 3,157 BTC. As a fabless 5G/IoT chipmaker, Sequans views bitcoin as a long-term treasury reserve and continues to accumulate with a strategic eye towards the future. Following the announcement, SQNS shares rose by a modest 1%.
“Sequans’ continued investment in bitcoin highlights its commitment to integrating crypto as a core component of its financial strategy,” commented financial analyst Mark Turner. “In an industry as volatile as crypto, having a long-term view is crucial, and Sequans seems to be playing the long game.”
The Bigger Picture
These announcements mark a significant moment in the evolution of crypto treasuries, raising questions about whether this trend of institutional adoption can sustain its current momentum. The varied strategies—from BitMine’s ambitious ETH accumulation to Verb’s toncoin pivot and Sequans’ steady bitcoin strategy—illustrate the diverse approaches companies are taking to integrate digital assets.
As the boundaries between traditional finance and the crypto world continue to blur, the market eagerly awaits the next moves from these trailblazers. Will other companies follow suit with similar audacity? One thing is clear: in the fast-paced world of crypto, the only constant is change.
Source
This article is based on: Crypto Treasuries Expand as Public Companies Make Bold Monday Moves
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
