Crypto treasury firms initiated an unprecedented $7.8 billion cryptocurrency acquisition spree this week, driving total corporate holdings beyond the $100 billion milestone. Ether (ETH) emerged as the primary target, with five public companies committing over $3 billion to ETH purchases – equivalent to 45 times the network's weekly issuance. Major moves included BTCS Inc.'s $2 billion share sale to fund ETH buys, SharpLink Gaming's $338 million ETH acquisitions, and The Ether Machine's $57 million purchase of 15,000 ETH.
Corporate restructuring further fueled ETH demand: biotech firm 180 Life Sciences rebranded as ETHZilla Corporation in a $425 million pivot, while Fundamental Global transformed into FG Nexus via a $200 million deal. Altcoins saw significant interest as Tron Inc. announced plans to raise $1 billion for TRX token purchases, and CEA Industries (now backed by Binance co-founder connections) targeted $500 million-$1.25 billion in BNB acquisitions. Additionally, Cemtrex Inc. bought $1 million in Solana (SOL) with plans to expand to $10 million, and Mill City Ventures III secured $450 million to pivot into Sui (SUI) investments.
Bitcoin remained prominent with $2.7 billion in corporate activity, led by Strategy's 21,021 BTC purchase following a $2.5 billion capital raise. The Smarter Web Company acquired 225 BTC ($26.5M), Metaplanet bought 780 BTC ($92M), and energy firm ZOOZ Power launched a Bitcoin treasury arm with $180 million plans. Galaxy Research revealed corporate crypto holdings now exceed $100 billion ($93B in BTC), though analyst Will Owens warned of structural fragility if equity premiums to NAV collapse amid an increasingly crowded trade.