Bitmine Immersion Technologies announced that it has acquired 5.79 million Ether (ETH), representing approximately 4.8% of the cryptocurrency’s total circulating supply. This update follows the company’s purchase of nearly 10,000 ETH during the past week.
Ether staking and treasury details
The company disclosed that around 4.9 million ETH, which accounts for about 85% of its Ether holdings, are staked through its validator operations. Bitmine expects its staking initiatives to deliver projected annualized rewards of $299 million, contingent on full deployment of its ETH across its staking infrastructure and partner validators.
Bitmine Chairman Tom Lee described the rising ETH/BTC ratio as a sign of growing momentum for Ether, noting that it had reached its highest point in three months.
Bitmine’s total holdings—including cryptocurrencies, cash, and marketable securities—stood at $11.8 billion as of July 26.
ETH outperforms Bitcoin
Recent market data show that Ether has outperformed Bitcoin over the last seven days. According to figures from CoinGecko, ETH’s price increased by 2.4%, while Bitcoin registered a loss of about 0.7% over the same period.
| Asset | 7-Day Change (%) |
|---|---|
| ETH | +2.4% |
| BTC | -0.7% |
Tom Lee commented that the strengthening ETH/BTC ratio marks the highest level observed in the past three months and may signal increased investor interest in Ether.
Bitmine and Strategy treasury comparison
Bitmine now operates the largest corporate Ether treasury in the world, ranking just behind Strategy among public companies by the value of its digital asset portfolio. While Bitmine has increased its accumulation of Ether, Strategy has recently shifted its approach and paused new Bitcoin purchases.
Strategy reported on Monday that it raised $544.5 million from stock sales, repurchased $25 million worth of STRC preferred shares, and boosted its US dollar reserve to $3.75 billion. The company continues to hold 843,775 BTC, maintaining its position as a major corporate Bitcoin holder.
Mini dictionary: Bitmine Immersion Technologies is a digital asset company focused on building large-scale blockchain infrastructure and custodial solutions. Strategy is another publicly traded firm known for its sizable investments in Bitcoin and digital assets.
