Ethereum Reserve Craze Sweeps US Stocks, Four Star Companies Lead the Trend

Recently, the market's optimistic sentiment towards Ethereum has clearly rebounded. From the slogan "Ethereum is the oil of the digital age" to "ETH will rise to 10,000 dollars," the future of Ethereum is under significant attention. However, the key factors driving the value of ETH may not be on the blockchain, but rather in the U.S. stock market.

As "Bitcoin reserves" become a new trend for publicly traded companies, Ethereum reserves are becoming the new favorite in the US stock market. Recently, several listed companies have announced large-scale purchases of ETH, sparking heated discussions in the market.

Last week, a certain company announced the purchase of 7,689 ETH again, becoming the publicly traded company with the largest reserve of ETH. The company's stock price subsequently rose by nearly 30%. Another company focused on Bitcoin mining also announced the launch of a $250 million ETH asset reserve plan, and its stock price skyrocketed 16 times within a month.

In addition, a Bitcoin mining company announced on Tuesday plans to raise $100 million to purchase ETH, and its stock price soared by 110% after the news was released. Another company directly announced a complete shift to Ethereum and sold its Bitcoin, with its stock rising by about 20% at one point during trading.

These four companies are a microcosm of the active embrace of the Ethereum narrative in the U.S. stock market and have become the focus of the capital market. They are competing to announce ETH reserve plans aimed at establishing a clear market positioning.

Businesses are different, but all seek to turn losses into profits.

Although these four companies have different business backgrounds, they are all actively betting on Ether, and as a result, have seen a significant increase in their stock prices.

From Gambling to Ether Reserve

The first company primarily focuses on online sports betting, but its revenue plummeted significantly in 2024. Facing the risk of delisting, it purchased ETH through large-scale private placements, becoming one of the largest publicly traded holders of ETH in the world. The company has deployed over 95% of its ETH in liquid staking protocols to earn staking rewards. This strategy not only optimized the financial structure but also pushed the company from the brink of delisting into the spotlight of "crypto concept stocks."

From Bitcoin Mining Farm to ETH Vault

The second company was originally a Bitcoin mining enterprise but faced the challenges of high energy consumption and low profit margins. It announced a private placement fundraising plan to purchase approximately 95,000 Ether, and the stock price surged from $4.50 to $111.50, skyrocketing by 3000% within a month. Meanwhile, the company still retains its original Bitcoin mining business.

New Strategy for Blockchain Infrastructure Operators

The third company focuses on blockchain infrastructure, mainly operating Ethereum nodes and providing data analysis platforms. Although it incurred losses in 2024, the company has been holding ETH and running validator nodes since 2021. In June-July of this year, the company accelerated its ETH accumulation and plans to launch a $100 million fundraising plan to further expand its ETH holdings. This initiative caused the company's stock price to soar by more than 100% in a single day.

Fully Transitioning to Ether Mining Companies

The fourth company initially focused on Bitcoin mining, and later gradually laid out infrastructure for Ethereum staking. In July of this year, the company increased its ETH holdings to 100,603 coins, accounting for approximately 60% of its assets, through public offerings and selling part of its Bitcoin.

These four companies all face issues of poor financial conditions and low market capitalization, but they quickly gained market attention and achieved a rise in stock prices through their Ether reserve strategy.

Key Drivers Behind the Transformation

The ETH reserve strategies of these companies are backed by different key figures, from cryptocurrency industry tycoons to well-known Wall Street personalities.

The transformation of the first company was led by the co-founder of Ethereum, who joined the company’s board and pushed for large-scale financing. Several well-known cryptocurrency investment institutions also participated in the financing.

The strategy of the second company was proposed by a well-known strategist from Wall Street, who emphasized the importance of stablecoins in the cryptocurrency ecosystem. The company's fundraising plan has also received support from well-known venture capitalists in Silicon Valley and several crypto-native institutions.

The CEO of the third company is a veteran of the cryptocurrency industry, having started investing in Bitcoin as early as 2011 and transitioned to Ethereum in 2014. He has spearheaded the company's innovative initiative to borrow and acquire ETH through a decentralized finance platform.

The leader of the fourth company previously worked on Wall Street and later served as an advisor to a large cryptocurrency exchange. He described Ethereum as "a blue-chip asset that is reshaping the financial system," emphasizing its potential in stablecoins and decentralized financial applications.

The commonality among these companies is that the core figures have deep ties to the cryptocurrency industry, and their funding targets overlap as well. Cryptocurrency funds and traditional funds that have invested in Ethereum have become important driving forces behind this wave of ETH reserves.

As ETH reserve companies become a hot concept stock in 2025, the feast between the crypto world and the stock market seems far from over.