Bitmine Immersion Technologies announced that it now holds 5.79 million Ether, representing approximately 4.8% of the entire ETH supply, following the acquisition of nearly 10,000 ETH in the past week.
Major stake in ETH and staking operations
The company disclosed that about 4.9 million ETH, nearly 85% of its Ethereum holdings, have been allocated to its validator operations. Bitmine projected that once all its Ether is fully deployed through its staking platform and partner validators, the company expects to generate annual staking rewards of around $299 million.
Bitmine’s total assets, including cryptocurrencies, cash, and marketable securities, stood at $11.8 billion as of July 26. This sizeable Ether position underscores Bitmine’s growing presence within the Ethereum ecosystem.
Mini dictionary: Validator operations, processes in which entities stake their assets to secure the blockchain network and receive rewards for validating transactions or creating new blocks. On the Ethereum network, validators play a crucial role in the transition to proof-of-stake consensus.
ETH performance outpaces Bitcoin in recent week
Ether outperformed Bitcoin in the last seven days, according to CoinGecko data. ETH registered a gain of 2.4% over the period, while Bitcoin declined by about 0.7%.
| Asset | 7-day % Change |
|---|---|
| ETH | +2.4% |
| BTC | -0.7% |
Bitmine Chairman Tom Lee commented that the ETH/BTC ratio was at a three-month high, indicating increasing momentum in Ether’s favor compared to Bitcoin.
Chairman Tom Lee stated that the current high in the ETH/BTC ratio demonstrates a strengthening market position for Ether relative to Bitcoin.
Bitmine’s Ether treasury surpasses others
Bitmine has established the largest Ether treasury among corporate holders, surpassed only by Strategy in total digital asset value. The accumulation approach of Bitmine marks a departure from Strategy, which has halted further Bitcoin acquisitions in recent weeks.
Strategy, a diversified digital asset holding company, revealed on Monday that it had secured $544.5 million from recent stock offerings and repurchased $25 million in STRC preferred shares. Its US dollar reserves climbed to $3.75 billion, while its Bitcoin holding remained at 843,775 BTC.
Industry observers note that these developments reflect contrasting strategies between two major publicly listed entities heavily invested in digital assets.
