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BTC 
ETH Bitmine increased its Ethereum holdings to 5.79 million, pledging 85% to receive an annualized reward of US$299 million.
Bitmine Immersion Technologies reported on Monday that its total Ethereum holdings have risen to 5.79 million ETH, accounting for approximately 4.8% of the total circulation supply of the cryptocurrency. The infrastructure provider focusing on digital assets purchased nearly 10,000 ETH units in the past week. The move consolidates Bitmine's position as one of the major corporate owners of Ethereum, with total value second only to Strategy among listed companies.
Large-scale Ethereum Pledge Business
About 4.9 million ETH (approximately 85% of Bitmine's total Ethereum holdings) are currently pledged through the company's validator service. By deploying most of Ethereum, Bitmine expects annualized pledge rewards to reach approximately $299 million after its pledge infrastructure and partner validator network reach full capacity.
In addition to cryptocurrency assets, Bitmine also holds large amounts of cash and marketable securities. As of July 26, the company's total holdings in digital assets, cash and securities were $11.8 billion.
Bitmine Chairman Tom Lee described the company's Ethereum strategy as "well-positioned" and mentioned the consistent approach to validator operations and the optimistic outlook for pledge rewards.
Small Dictionary: Verifier operation refers to the process of participating in a proof-of-stake blockchain network (such as Ethereum), by verifying and adding new transactions to the blockchain, and receiving pledge rewards in return for protecting the network.
Ethereum outperforms Bitcoin, with ratio hitting a three-month high
Ethereum has outperformed Bitcoin in the past seven days. According to CoinGecko data, ETH rose 2.4%, while Bitcoin fell about 0.7%. Tom Lee highlighted the rise in the ETH/BTC ratio, noting that it has reached a three-month high, reflecting the growing momentum of Ethereum's market position.
This continued ETH performance further strengthens confidence in Bitmine's accumulation and pledge strategies, as the company continues to focus heavily on Ethereum rather than Bitcoin.
Assets: ETH +2.4%, BTC-0.7%
Comparison of digital asset holdings with Strategy
Bitmine's enterprise Ethereum reserves only lag behind that of Strategy, another well-known digital asset holding company. However, the two companies 'strategies have recently diverged. Bitmine continues to accumulate Ethereum and increase its pledge business, while Strategy has suspended new Bitcoin acquisitions in recent weeks.
On Monday, Strategy revealed that it had raised $544.5 million through a stock offering and repurchased $25 million of STRC preferred stock. The company also increased its U.S. dollar reserves to $3.75 billion and reported that its total Bitcoin holdings remained unchanged at 843,775 BTC.
Tom Lee emphasized that Bitmine's "current accumulation phase is strategically focused on pledge optimization, rather than just accumulating ETH for price gain."
