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BTC 
ETH Bitmine Immersion Technologies continues to increase its holdings significantly, purchasing 10,399 ETH units last week.
Bitmine Immersion Technologies, the world's largest Ethereum (ETH) holder, continued its aggressive hoarding strategy and purchased another 10,399 ETH units in the past week. Over the past year, the company's treasury has continued to grow and currently reaches 5,797,813 ETH, just one step away from the milestone of 5.8 million.
Another massive purchase
A press release issued by the former Bitcoin miner showed that his total holdings in cryptocurrency, cash and other investments were approximately US$11.3 billion. The market value of Ethereum's position alone is approximately US$10.9 billion based on current prices-ETH has recently fallen from above US$1900 to below US$1850. Bitmine holds 4.8% of Ethereum's circulating supply, consolidating its position as the holder of ETH by the world's largest company.
In addition, the company has narrowed the gap with Strategy, the overall leader in the cryptocurrency space. The company co-founded by Michael Saylor has not only suspended Bitcoin purchases, but has just announced its third sale this year.
According to Bitmine Chairman Tom Lee, the company has been increasing its ETH holdings every week since adopting the Ethereum treasury strategy on June 30 last year. Talking about the recent performance of the Ethereum market-the altcoin has successfully outperformed BTC and many other altcoins-Lee pointed out that this clearly shows that its fundamentals are still improving.
He also said that ETH outperformed the Nasdaq 100 index by 25% in July. This made it the strongest month for ETH in a year. Lee said: "In July, ETH outperformed the Nasdaq 100 Index by 2500 basis points (or 25 percentage points). This is the largest excess return since July 2025, and we believe it reflects the strengthening of cryptocurrency fundamentals. In July last year, ETH rose from $2,375 to $4,057 at the end of August."
Progress in pledge business
In addition to accumulating ETH, the company has also continued to expand its pledge business through its institutional-level platform MAVAN. Currently, 4.92 million ETH pieces have been pledged, accounting for 85% of its total treasury. Based on current yields, Bitmine expects to receive approximately US$291 million in pledge rewards and approximately US$247 million in annualized pledge revenue every year.
