SharpLink Gaming, Bit Digital, and BitMine Immersion are leading a new trend among public companies by significantly increasing their Ethereum holdings. SharpLink raised $425 million in May 2025 to acquire 176,270.69 ETH, becoming the largest publicly-traded holder of Ethereum. Bit Digital shifted its strategy to focus on Ethereum, raising $172 million to purchase 100,603 ETH. Meanwhile, BitMine Immersion reported holding 566,776 ETH by July 2025, surpassing both the Ethereum Foundation and Coinbase. These strategic moves have resulted in substantial stock price gains, with SharpLink's shares soaring 400% on the day of their announcement. Analysts are watching these developments closely, as Ethereum's smart-contract capabilities and staking features may provide these companies with a competitive advantage over those focusing solely on Bitcoin.