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Bitmine’s near-completion of its <a href="https://xpertsstudio.com/ethereum-outpaces-bitcoin-as-crypto-rallies/” title=”Ethereum Outpaces Bitcoin As Crypto Rallies”>Ethereum target highlights the growing institutional interest and potential shifts in crypto market dynamics.
Bitmine Immersion Technologies has made 97% of its way toward its goal of owning 5% of all Ethereum after adding 32,447 ETH over the past week, the company said Monday.
The largest Ether treasury firm now holds about 5.9 million ETH, or 4.8% of Ether’s total supply. It has staked over 5 million ETH, representing 87% of its ETH holdings and about $12.4 billion at the company’s stated ETH price.
The latest acquisition came amid a sharp recovery across most crypto assets, with Ether gaining more than 30% last week. Bitmine Chairman Thomas “Tom” Lee sees room for the rally to extend, adding that similar 30% weekly gains in 2021 and 2025 were followed by much larger advances.
“This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to Bitcoin. These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains,” Lee noted.
Bitmine’s total crypto, cash, marketable securities and “moonshots” holdings have grown to $14.9 billion. In addition to ETH, the portfolio includes 210 BTC, $308 million in cash and marketable securities, a $180 million stake in Beast Industries and $89 million invested in Eightco Holdings.
Staking has also become a major part of Bitmine’s strategy. Its Made in America VAlidator Network, or MAVAN, provides institutional-grade Ethereum staking infrastructure, with Bitmine reporting a 2.67% seven-day staking yield and projected annualized staking revenue of $330 million.
Disclosure: This article was edited by Viontent, see our Editorial Policy
Source: cryptobriefing.com
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