- Bitmine Immersion Technologies now holds 5.79 million Ether, representing about 4.8% of the total supply, after purchasing nearly 10,000 ETH over the past week.
- Approximately 85% of its holdings (4.9 million ETH) are staked through validator operations, with projected annualized rewards of about $299 million.
- Ether has outperformed Bitcoin over the past week, gaining 2.4% while Bitcoin fell 0.7%, according to CoinGecko data.
Bitmine Immersion Technologies announced Monday that it holds 5.79 million Ether, or roughly 4.8% of the cryptocurrency’s total supply, after purchasing nearly 10,000 ETH over the past week. The company built the world’s largest corporate Ether treasury, trailing only Strategy among public companies by digital asset holdings value.
About 4.9 million ETH, or 85% of its holdings, are staked through validator operations, with Bitmine projecting annualized rewards of roughly $299 million once fully deployed. The company’s total crypto, cash, and marketable securities reached $11.8 billion as of July 26.
These purchases come as Ether outperformed Bitcoin, gaining 2.4% over seven days while Bitcoin dropped 0.7%, according to CoinGecko data. Bitmine Chairman Tom Lee said the rising ETH/BTC ratio, at a three-month high, signaled strengthening momentum for Ether.
Bitmine’s accumulation strategy diverged from Strategy’s, which paused Bitcoin purchases. Strategy announced Monday it raised $544.5 million from stock sales, repurchased $25 million of preferred shares, and increased its dollar reserve to $3.75 billion while holding 843,775 BTC.
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