Bitmine Immersion Technologies reported on Monday that it now holds 5.79 million Ether, representing approximately 4.8% of the total Ethereum supply. The company disclosed this figure after acquiring nearly 10,000 ETH within the past week.
Staking strategy and projected rewards
Of its total Ether holdings, Bitmine stated that around 4.9 million ETH, or about 85%, is staked through its validator operations. The company projected annualized staking rewards of $299 million, assuming full deployment of its Ether across its own staking infrastructure and through partner validators.
As of July 26, Bitmine reported that the combined value of its cryptocurrency holdings, cash, and marketable securities amounted to $11.8 billion.
Ether outperforms Bitcoin
Over the past week, Ether has outperformed Bitcoin. According to CoinGecko data, ETH gained 2.4% in the past seven days, whereas Bitcoin fell approximately 0.7%. Bitmine Chairman Tom Lee highlighted the rising ETH/BTC ratio, describing it as reaching a three-month high and signaling strengthening momentum for Ether.
Tom Lee noted that the ETH/BTC trading pair had climbed to its highest point in three months, an indicator of improving sentiment and demand for Ether within the market.
The ETH/BTC ratio is frequently used by market analysts to assess the relative performance of Ether against Bitcoin in the spot market. A rising ratio can indicate growing investor confidence in Ethereum’s prospects or upcoming network developments.
Mini dictionary: Bitmine Immersion Technologies is a cryptocurrency-focused firm that specializes in large-scale digital asset investment, staking, and validator infrastructure.
Comparison with Strategy’s approach
Bitmine currently manages the largest corporate treasury of Ether globally among public companies, ranking second only to Strategy by the overall value of digital assets held. While Bitmine has continued to accumulate Ethereum, Strategy, which holds one of the largest institutional Bitcoin holdings, recently paused its Bitcoin purchases.
On Monday, Strategy announced the completion of stock sales totaling $544.5 million. The firm also repurchased $25 million of its STRC preferred shares and raised its US dollar reserves to $3.75 billion, while maintaining ownership of 843,775 Bitcoins.
| Company | Primary Asset | Latest Activity | Total Holdings (Asset) | Total Value/Reserve |
|---|---|---|---|---|
| Bitmine | ETH | Bought 10,000 ETH | 5.79 million ETH | $11.8 billion |
| Strategy | BTC | Paused Bitcoin purchases | 843,775 BTC | $3.75 billion (USD reserve) |
Both companies continue to hold substantial positions in their respective flagship crypto assets, though their approaches to accumulation have recently diverged amid shifting market conditions.
