Ethereum Surges Past Bitcoin as BitMine Doubles Down on $ETH

Ethereum has extended its rally against Bitcoin over the past month, outperforming its larger peer by 16 percentage points. The ETH/BTC ratio recently climbed to 0.03, marking its highest level in about three months.

BitMine Immersion Technologies announced another significant Ethereum purchase, adding 9,946 ETH to its treasury and bringing its total holdings to 5,787,414 ETH, worth approximately $11.2 billion based on current market prices.

Ethereum has maintained positive momentum across shorter timeframes, rising about 4% over the past 24 hours and more than 5% over the last seven days, while extending its 14-day gain to roughly 10.5%. Tom Lee noted that the ETH/BTC ratio reaching a three-month high signals improving strength for Ethereum relative to Bitcoin.