Bitmine Immersion Technologies has strengthened its position as the largest corporate holder of Ether by acquiring nearly 10,000 ETH over the past week. The latest purchase brings the company's total holdings to 5.79 million ETH, representing approximately 4.8% of Ethereum's total circulating supply.
The announcement comes as Ethereum (ETH) continues to outperform Bitcoin (BTC), reinforcing growing institutional confidence in the world's second-largest cryptocurrency.
Bitmine Holds Nearly 5 Million Staked ETH
According to the company's latest update, around 4.9 million ETH, or roughly 85% of its total Ether holdings, is currently staked through Bitmine's validator infrastructure.
By staking the majority of its ETH, Bitmine expects to generate an estimated $299 million in annualized staking rewards once all of its holdings are fully deployed across its validator network and trusted staking partners.
As of July 26, Bitmine reported total crypto assets, cash, and marketable securities valued at approximately $11.8 billion, highlighting its rapidly expanding digital asset treasury.
Bitcoin and ETH performance over the past seven days. Source: CoinGecko
Ethereum Outperforms Bitcoin
Bitmine's latest Ether accumulation comes during a period of strong ETH performance.
Over the past seven days, Ethereum has gained approximately 2.4%, while Bitcoin has declined around 0.7%, according to CoinGecko market data.
Bitmine Chairman Tom Lee said the ETH/BTC ratio has climbed to its highest level in nearly three months, indicating growing momentum for Ethereum as investor demand continues to increase.
The improving ratio is often viewed as a key indicator of Ethereum's relative strength compared to Bitcoin, particularly during periods of increased institutional interest.
Bitmine Builds the Largest Corporate Ether Treasury
With 5.79 million ETH on its balance sheet, Bitmine now operates the world's largest corporate Ether treasury.
Among publicly traded companies, only Strategy holds digital assets with a higher overall market value, primarily through its massive Bitcoin reserves.
However, Bitmine's strategy has increasingly diverged from Strategy's recent approach. While Bitmine continues to aggressively accumulate Ether, Strategy has temporarily paused additional Bitcoin purchases.
Strategy Strengthens Cash Position
On Monday, Strategy announced it had raised $544.5 million through stock sales while repurchasing $25 million of its STRC preferred shares.
The company also increased its U.S. dollar reserves to $3.75 billion, while maintaining its Bitcoin treasury of 843,775 BTC.
Although Strategy remains the largest corporate Bitcoin holder, Bitmine's continued focus on Ethereum highlights the growing institutional appetite for ETH as staking rewards and network adoption continue to expand.
