Crypto
Bitmine Adds 10,000 ETH Amid Stronger Ether Performance
Bitmine Immersion Technologies has continued to expand its corporate Ether treasury, adding nearly 10,000 ETH over the past week. The company now holds a total of 5.79 million ETH, representing about 4.8% of Ether's total supply.
About 85% of Bitmine's Ether position is staked through its validator operations, with the company projecting annualized staking rewards of around $299 million once all of its Ether is deployed across its staking infrastructure and partner validators.
The purchases come during a period when Ether has outperformed Bitcoin, with the ETH/BTC ratio reaching a three-month high. Bitmine Chairman Tom Lee characterized this as a signal of strengthening momentum for Ether.