BitMine increases its reserve to 5.79 million ETH and controls 4.8% of the supply

BitMine continues its accumulation strategy and reaches a new milestone on Ethereum. The company announced that it holds 5.79 million ETH, or approximately 4.8% of the cryptocurrency’s total supply. This increase comes after a new purchase made during the past week. At the same time, a large part of its assets already participate in staking, while the group strengthens its place among the largest institutional holders of digital assets listed on the stock exchange.

BitMine strengthens its position on Ethereum with a record reserve

BitMine reported purchasing nearly 10,000 ETH over the past week. Thanks to this new acquisition, its reserves now reach 5.79 million ETH. The company also specifies that approximately 4.9 million Ethereum, or nearly 85% of its assets, are currently locked up in staking via its own validators. This strategy should make it possible to increase the revenue generated by its infrastructure.

According to the data communicatedBitMine estimates that annualized staking rewards could reach approximately $299 million when all of its Ethereum is fully deployed to its validators and partners. As of July 26, the total value of its cryptocurrencies, cash and tradable securities reached $11.8 billion. BitMine thus becomes the largest Ether reserve held by a company, remaining behind Strategy only in overall value of digital assets held by a listed company.

A different strategy in the face of market developments

These new purchases come as Ethereum has recorded better performance than Bitcoin over the last seven days. According to Coingecko data at the time of writing, ETH was up around 2%, while Bitcoin was down around 0.8%.

BitMine CEO Tom Lee also points out that the ETH/BTC ratio is at a three-month high at 0.3000. He considers that this development reflects a favorable dynamic for Ethereum.

We have increased our share buybacks because we view the rise in the ETH/BTC ratio, despite the diminishing chances of the Clarity Act being passed in 2026, as a sign of strengthening cryptocurrency prices. This ratio has also reached a three-month high of 0.3000, which we believe bodes well for future ETH appreciation.

Tom Lee, CEO of BitMine. Source: BiMine press release.

At the same time, BitMine is now taking a different trajectory than Strategy. While the latter has suspended its Bitcoin purchases in recent weeks, it announced that it had raised $544.5 million through share sales. Strategy also repurchased $25 million of its STRC preferred shares and increased its dollar reserves to $3.75 billion, while retaining 843,775 BTC.

With this new step, BitMine confirms the continuation of its strategy focused on Ethereum and the development of staking. The company’s future publications will make it possible to assess whether this pace of accumulation is maintained and how this approach will evolve in the face of the strategic choices of other listed companies, particularly on the Bitcoin market.