Bitmine keeps buying Ether as ETH outperforms Bitcoin
Bitmine Immersion Technologies said it now holds 5.79 million Ether, about 4.8% of Ethereum’s total supply, after buying nearly 10,000 ETH in the past week. Roughly 4.9 million ETH, or about 85% of its holdings, are staked through its validator operations. Bitmine expects annualized staking rewards of about $299 million once all Ether is deployed across its staking setup and partner validators. Its crypto holdings, cash, and marketable securities totaled $11.8 billion as of July 26. The latest buying came as Ether outperformed Bitcoin over the past week, with ETH up about 2.4% and BTC down about 0.7%. Bitmine Chairman Tom Lee said the rising ETH/BTC ratio signaled stronger momentum for Ether. Bitmine now has the largest corporate Ether treasury and ranks behind Strategy among public companies by digital asset holdings value.
