BitMine Raises Its Reserve to 5.79 Million ETH and Controls 4.8% of the Supply

BitMine continues its accumulation strategy and hits a new milestone on Ethereum. The company announced holding 5.79 million ETH, about 4.8% of the total cryptocurrency supply. This increase follows a new purchase completed during the past week. At the same time, a large part of its assets already participates in staking, while the group strengthens its position among the largest institutional holders of publicly traded digital assets.

BitMine Strengthens Its Position on Ethereum With a Record Reserve

BitMine stated it bought nearly 10,000 ETH during the previous week. Thanks to this new acquisition, its reserves now reach 5.79 million ETH. The company also specifies that about 4.9 million Ethereum, nearly 85% of its holdings, are currently locked in staking via its own validators. This strategy aims to increase the income generated by its infrastructure.

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

A Different Strategy in the Face of Market Evolution

These new purchases occur while Ethereum has recorded better performance than Bitcoin over the past seven days. According to Coingecko data at the time of writing, ETH rose about 2%, while Bitcoin fell about 0.8%.

BitMine CEO Tom Lee also points out that the ETH/BTC ratio reaches its highest level in three months at 0.3000. He believes this development reflects a favorable momentum for Ethereum.

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

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

At the same time, BitMine now adopts a different trajectory from Strategy. While the latter suspended its Bitcoin purchases in recent weeks, it announced having 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 Ethereum-centered strategy and staking development. Upcoming company releases will allow assessment of whether this accumulation pace continues and how this approach will evolve compared to the strategic choices of other listed companies, notably in the Bitcoin market.