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BTC 
ETH Bitmine's Ethereum holdings reached 5.79 million positions, valued at US$11.8 billion.
Bitmine Immersion Technologies reported that after increasing its holdings of nearly 10,000 Ethereum holdings in the past week, its total Ethereum holdings have risen to 5.79 million. This increase makes the company's ETH holdings account for approximately 4.8% of Ethereum's total supply, making it the second largest Ethereum company holder after Strategy.
Ethereum Position Highlights
Bitmine disclosed that approximately 4.9 million ETH held (approximately 85% of its total Ethereum position) are currently pledged through verification node operations. These pledged assets are distributed among Bitmine's own infrastructure and its cooperative verification nodes.
The company expects annualized pledge rewards to reach US$299 million once all of its Ethereum are deployed to the pledge network. As of July 26, Bitmine's total value of crypto assets, cash and securities was US$11.8 billion.
Tom Lee, chairman of, said that this increase strategy is consistent with their long-term judgment of the value of the Ethereum network. Lee pointed out that the ETH/BTC ratio has hit a three-month high, indicating that "Ethereum momentum is growing."
Bitmine Chairman Tom Lee regarded the rise in the ETH/BTC ratio as a positive signal and believed it reflected the favorable momentum of Ethereum.
Ethereum outperforms Bitcoin
According to CoinGecko data, in the past seven days, Ethereum prices have increased by approximately 2.4%, while Bitcoin prices have fallen by approximately 0.7% over the same period. Recent performance has once again attracted attention to Bitmine's Ethereum shareholding strategy.
Asset class and seven-day price movements: Ethereum (ETH) rose 2.4%, Bitcoin (BTC) fell 0.7%.
Comparison with Strategy
Bitmine's Ethereum holdings make it the second-largest public company holder after Strategy. Bitmine's current strategy is different from Strategy, which has recently stopped purchasing bitcoins.
On Monday, Strategy announced it had raised $544.5 million through stock sales, repurchased $25 million of STRC preferred stock, and increased its dollar reserves to $3.75 billion. Its bitcoin holdings remain at 843,775 BTC, underscoring Strategy's more robust approach to BTC accumulation compared to Bitmine's aggressive strategy of overweight ETH.
Strategy is a well-known public company known for its large-scale investments in the digital asset space, especially Bitcoin, and has become a leading institutional player in the space. [TAG
Explanation of Terms
Verify Node Operations: This is an integral part of the Ethereum 2.0 pledge, involving computers or nodes that participate in the network by proposing and verifying new blocks for rewards. Pledges require ETH to be deposited into special contracts to support cybersecurity and consensus mechanisms.
