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TL;DR: Ethereum isn’t just getting accumulated — it’s getting locked up. Today’s alpha:
🧊 BitMine just became the MicroStrategy of ETH (but with better tokenomics)
⚖️ SharpLink is stacking ETH faster than it can be printed
🧠 ETH Strategy is launching a leveraged ETH treasury protocol that dodges liquidation risks The ETH flywheel is gaining weight… and it’s not slowing down.
🧱 BitMine Is Now an Ethereum Whale (and Buying Back $1B of Its Own Stock)
Tom Lee’s BitMine isn’t just pivoting to Ethereum — it’s going all in.
Here’s what just happened:
📌 BitMine Holdings ($BMNR):
✅ Now holds 625,000 ETH (~$2.4B)
✅ Just approved a $1B stock buyback program
✅ NAV per share: $22.76
✅ Cash balance: $401M+
✅ Also holds 192 BTC (~$22.8M)
🎯 Long-term target: Own & stake 5% of all ETH
🧠 As Tom Lee put it:
“In our road to achieving ‘the alchemy of 5%,’ there may be times when the best expected return is to buy back our own shares.”
This is the MicroStrategy model — but with a harder, more productive asset.
$ETH.X ( ▲ 0.49% ) gives native yield. ETH supply goes down. ETH has utility.
Bitcoin? Just sits there.
💥 SharpLink Adds Another 77K ETH — Now Holds 438,190
SharpLink isn’t just keeping pace — it’s speeding up:
📌 SharpLink Gaming (SBET):
🆕 Just acquired 77,210 ETH last week
🪙 Total holdings: 438,190 ETH
💸 Spent ~$290M at an average price of ~$3,756
⚖️ ETH-per-share (concentration): 3.40, up from 3.06
📈 ETH staking rewards: +722 ETH
ETH isn’t just on their balance sheet — it’s yielding.
📌 They’re not flipping coins. They’re compounding.
⚙️ ETH Strategy Is Launching — Treasury Protocol With Leverage (Minus Liquidation)
ETH Strategy just raised 12,342 ETH (~$46.5M) to launch a new type of protocol:
→ Leveraged ETH accumulation without liquidation risk.
📌 Here’s what you need to know:
📍 Public sale: 1,242 ETH
📍 Private presale: 6,900 ETH
📍 Puttable warrants: 4,200 ETH
🪙 Token: $STRAT
🔒 4-month lockup, then 2-month linear vest
💡 Deployment plan:
11,817 ETH for staking + liquidity
525 ETH for protocol growth, audits, ops
📍 Launching on Uniswap v4 with an ATM single-sided pool
Why it matters:
This is an evolution of the SharpLink/BitMine model — protocol-native treasuries that use bonding, leverage, and non-liquidation debt issuance to build ETH-per-share flywheels.
🧠 One Way to Look at ETH Right Now
This stat hits different:
SharpLink + BitMine have acquired 82% of all ETH issued since The Merge.
That’s 298,770 ETH in just one month.
Meanwhile, spot ETFs hold 4.11M ETH — that’s 11x the net issuance.
🛢️ Think of ETH like a rare oil mine.
It emits 1 barrel a day, while Wall Street consumes six.
And on top of that:
🔥 ETH burns when usage spikes
🧱 ETH is staked by validators
🧲 ETH is being hoarded by corporate treasuries
💡 Ethereum isn’t just digital oil — it’s programmed to become the most deflationary mainstream asset in existence.
Anyone in the world can own it today for $3,850.
That price is looking real temporary.
📉 Meanwhile, Bitcoin Faces Its Own Treasury Risk
While ETH is being locked, staked, and bought back, Bitcoin’s future as a treasury asset is facing heat.
Here’s why:
🧱 BTC can’t stake
❌ No native yield
🏦 Mostly sits idle unless it’s lent via risk-on strategies
⚡ ETF inflows are solid — but don’t reduce float supply like ETH burns/staking do
🧯 Supply is still inflationary for now
📉 Treasury incentives are weaker vs ETH’s compounding model
That’s not an anti-BTC stance — it’s just the math.
ETH and BTC can absolutely coexist — but right now, ETH is the one being acquired and put to work.
🔥 Final Take
You’re watching the birth of an Ethereum capital market.
Public companies are compounding ETH-per-share.
Protocols are offering structured ETH yield & leverage.
ETFs are pulling ETH off the market with 0 emission offsets.
This isn’t a trend. It’s a blueprint.
If you believe ETH hits $10K, $50K, or $100K in the future…(Lee is predicting $704,000)
You’re watching the institutions that will front-run you get in now.
And for once — you can front-run them back.
Call to Action:
🧠 Stay sharp. Stay staked.
🏴☠️ Get your Nuggs daily. Get your ETH.
-Nick