Bitmine Immersion Technologies announced on Monday that it has acquired nearly 10,000 Ether over the past week, bringing its total holdings to 5.79 million ETH. This amount represents approximately 4.8% of Ether’s entire circulating supply.
Bitmine’s staking strategy and rewards
The company reported that about 4.9 million of its ETH holdings—roughly 85%—are actively staked through its validator operations. Bitmine projects annualized staking rewards of $299 million once all of its Ether is fully deployed across its staking infrastructure and partner validator networks.
As of July 26, Bitmine stated that its combined crypto assets, cash, and marketable securities amount to $11.8 billion.
Bitmine Chairman Tom Lee highlighted that the ETH/BTC ratio had reached its highest level in three months, signaling renewed strength in Ether’s price momentum.
Bitmine Immersion Technologies is a major cryptocurrency infrastructure provider focused on large-scale digital asset accumulation and staking services.
Mini dictionary: Validator operations, processes where specialized nodes validate transactions and add new blocks on proof-of-stake blockchains, earning rewards for contributing to network security.
ETH outperforms Bitcoin
The company’s recent acquisitions follow a period of outperformance for Ether compared to Bitcoin. In the past seven days, ETH has gained approximately 2.4%, while Bitcoin declined by 0.7%, based on CoinGecko data.
| Asset | 7-Day Change |
|---|---|
| Ether (ETH) | +2.4% |
| Bitcoin (BTC) | -0.7% |
Lee attributed this trend to increased interest in Ether, noting that the strengthening ETH/BTC ratio is viewed by some market participants as a sign of potential further gains for the second-largest cryptocurrency.
Comparison with other public companies
With its sizeable holdings, Bitmine now manages the world’s largest corporate Ether treasury among public companies, second only to Strategy in total digital asset valuation.
Bitmine’s accumulation approach contrasts with that of Strategy, which has paused Bitcoin purchases recently and shifted focus. On Monday, Strategy announced it had raised $544.5 million through stock sales, executed a $25 million repurchase of its STRC preferred shares, and increased its US dollar reserves to $3.75 billion. The company currently holds 843,775 BTC.
Strategy is a prominent publicly traded company known for its significant digital asset holdings, especially in Bitcoin. Its recent moves signal a more cautious stance on fresh acquisitions, at least for now.
| Company | ETH Holdings | BTC Holdings | Recent Purchases |
|---|---|---|---|
| Bitmine | 5.79 million | Not reported | 10,000 ETH |
| Strategy | Not reported | 843,775 | Paused |
Market analysts continue to watch Bitmine’s corporate treasury moves as it seeks to solidify its position as a leading player in the Ether ecosystem.
