According to data from strategythreserve, Bitmine (BMNR) ranks first in institutional holdings of Ethereum, currently holding approximately 3.4 million ETH, worth approximately $11.32 billion. Its holdings have increased by 20% in the past 30 days, with an average cost of $4,037 and a floating loss of approximately $2.4 billion.

SharpLink (SBET) ranks second in institutional holdings of Ethereum, currently holding 860,000 ETH, worth approximately $2.86 billion. Its holdings have increased by 2.5% in the past 30 days, with an average cost of $3,609 and a paper loss of approximately $170 million.

It is worth noting that the mNAV (net asset value multiple) of the two companies are currently 0.99 and 0.87, respectively. Bitmine's current market capitalization is $11.236 billion and SharpLink's current market capitalization is $2.297 billion, both lower than their Ethereum holding value.