Bitmine Immersion Technologies reported Monday that it now owns 5.79 million Ether, representing 4.8% of the total circulating ETH supply, after purchasing nearly 10,000 ETH during the past week.
Bitmine’s Staking Operations and Holdings
The company stated that approximately 4.9 million ETH, accounting for 85% of its total Ether reserves, are currently staked through its validator nodes. Bitmine expects to generate annualized staking rewards of around $299 million once its full Ether balance is deployed across internal and partner validator infrastructure.
As of July 26, Bitmine’s total portfolio, which includes cryptocurrencies, cash, and marketable securities, stands at $11.8 billion.
Ethereum Outperformance and Corporate Strategy
The company’s recent accumulation comes amid Ethereum’s stronger performance compared to Bitcoin over the past week. During this period, Ether gained 2.4% while Bitcoin fell by 0.7%, according to CoinGecko data.
Bitmine Chairman Tom Lee pointed out the rising ETH/BTC ratio, noting that it had reached its highest level in three months. He described this trend as a sign of strengthening momentum within the Ether market.
Tom Lee highlighted that the ETH/BTC ratio currently stands at a three-month high, reflecting increasing momentum for Ethereum.
With this latest purchase, Bitmine has assembled the world’s largest Ether treasury under a corporate structure, second only to Strategy in terms of overall digital asset holdings among public companies. In contrast to Bitmine’s accumulation-focused approach, Strategy has recently paused large-scale Bitcoin acquisitions.
Strategy’s Financial Moves and Wider Market Landscape
On Monday, Strategy disclosed it had raised $544.5 million through stock sales. The company also reported the repurchase of $25 million in preferred stock and an increase in its US dollar reserves to $3.75 billion. It continues to hold 843,775 Bitcoin.
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