Bitcoin mining company BMNR surpasses SBET to become the leading US stock in ETH reserves 🚀 BitMine Immersion Technologies (BMNR) is rapidly surpassing SharpLink Gaming (SBET) to become the largest Ethereum (ETH) reserve company on the publicly traded market. As of July 23, 2025, BMNR holds 566776 ETH with a market value exceeding $2 billion, representing an increase of over 700% compared to its initial $250 million private placement. And it achieved this feat thanks to its $250 million private placement completed on July 8th, surpassing sbet in just 16 days The strategic goal of BMNR is to hold and pledge 5% of the total global ETH supply, and increase the per share ETH holdings through reinvestment and pledge returns. In contrast, as of July 20, 2025, SBET holds 360807 ETH with a market value of approximately $1.33 billion, but its staking income is only 567 ETH. Will Sbet continue to raise funds to launch a counterattack? We'll wait and see. In addition to the rapid rise of BMNR in ETH, we cannot ignore its already well-known Bitcoin mining company, and BMNR's reserves also include a small amount of BTC reserves. So BMNR can become the dual reserve leader of BTC+ETH in the US stock market, and retreat can stabilize the leader of ETH in the US stock market. The two single point risks of sbet that I mentioned in the previous article do not exist on BMNR either 1. sbet's multiple private placements are opaque, and there is a historical burden in equity financing. BMNR has just completed its private equity round of transparency 2. Over reliance on Lubin as an individual, he is already an early giant whale of ETH, with single point risks such as exit risk. Its ETH reserves have been acquired directly from the ETH Foundation multiple times, and Lubin himself is a senior executive of the ETH Foundation, suspected of being left-handed. And BMNR's equity structure is clearer and has obtained Founders Fund，ARK Invest，Pantera Capital，Galaxy Digital，Kraken、DCG、MOZAYYX Institutional round investment It is not difficult to find that most of them come from the Bitcoin community. The strength of the institution is unfathomable Some are the pioneers who smashed ETH from 1600u to 80u in 2017. This time, bypassing the ETH Foundation and returning to ETH through the US stock market at this price point, combined with the recent exit news of BTC Whale, the subsequent layout is worth pondering. Finally, if you are interested in purchasing US stock BMNR. The simplest way to purchase BMNR: https://mystonks.org/?code=8lMJ67 @MyStonks_Org47 @MyStonksCN17 You only need to upload photos to use KYC. The best trading depth on the blockchain.