Over the past week, the company added almost 10,000 ETH, bringing its holdings to 5.79 million Ether, of which approximately 85% is staked through validator operations.
Bitmine Immersion Technologies said on Monday it held 5.79 million Ether, or about 4.8% of the cryptocurrency’s total supply, after purchasing nearly 10,000 ETH last week.
Bitmine disclosed that approximately 4.9 million ETH (ETH), or approximately 85% of its holdings, are staked through its validator operations. The company projected annual staking rewards of approximately $299 million once all of its Ether was deployed to staking infrastructure and partner validators. As of July 26, the company’s total holdings of cryptocurrencies, cash and marketable securities are $11.8 billion.
The latest purchases come after Ether outperformed Bitcoin (BTC) last week. According to CoinGecko, ETH has gained about 2.4% over the last seven days, while Bitcoin has fallen about 0.7%. data. In Monday’s announcement, Bitmine CEO Tom Lee said the rising ETH/BTC ratio, which he described as the highest in three months, signals strengthening Ether momentum.
Bitcoin and ETH performance over the last seven days. Source: CoinGecko
Bitmine has built the world’s largest corporate Ether vault, second only to Strategic among public companies in terms of the value of digital assets held. However, Bitmine’s accumulation strategy has recently diverged from a strategy that has halted Bitcoin purchases in recent weeks.
On Monday, Strategy announced that it had raised $544.5 million from a stock sale, repurchased $25 million of STRC preferred stock and increased its US dollar reserve to $3.75 billion while maintaining its holding of 843,775 BTC.
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