Ethereum Treasury Concentration Grows as Big Buyers and Sellers Diverge

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Corporate Ether treasuries are becoming increasingly concentrated as large buyers double down while others liquidate. BitMine Immersion Technologies now holds more than 4 million ETH, over 3.3% of circulating supply, and has publicly stated a long-term goal of reaching 5%. The company plans to stake much of its holdings to generate yield and strengthen its position within Ethereum’s proof-of-stake system.

Meanwhile, firms like ETHZilla and FG Nexus have sold significant ETH to repay debt or fund share buybacks. Market analysts describe this divergence as a redistribution, with distressed sellers offloading assets to institutions positioning themselves for long-term control over Ethereum’s economic infrastructure.