BitMine Immersion Technologies has bought about 10,000 additional ether over the past week, bringing its total holdings to 5.79 million ether. That is about 4.8 percent of Ethereum’s total supply.

On July 27 (all times local), blockchain media outlet Cointelegraph reported that BitMine disclosed the holdings that day.

BitMine said about 4.9 million ether, around 85 percent of its holdings, is staked through its validator operations. The company said it could expect annualised staking rewards of about $299 million if all of its ether holdings are deployed to its staking infrastructure and partner validators. As of July 26, its total assets, including crypto holdings, cash and marketable securities, were about $11.8 billion.

The additional purchase came as Ethereum has outperformed bitcoin over the past week. CoinGecko data showed ETH rose about 2.4 percent over the past 7 days, while bitcoin fell about 0.7 percent. BitMine Chairman Tom Lee (톰 리) said in the announcement that the ETH/BTC ratio has reached its highest level in three months and that Ethereum’s momentum is strengthening.

BitMine has established itself as the listed company that has accumulated the largest amount of Ethereum as part of its corporate treasury strategy. By the value of digital assets held, it is below Strategy, but its recent buying strategy has been moving differently from Strategy’s. While BitMine continues to accumulate ether, Strategy has stopped buying bitcoin in recent weeks.

Strategy said the same day it raised $544.5 million through stock sales. It also repurchased $25 million of STRC preferred shares and increased its U.S. dollar reserves to $3.75 billion. It kept its bitcoin holdings unchanged at 843,775 BTC.

Against that backdrop, market attention is focused on whether listed companies’ digital-asset treasury strategies are partly shifting from bitcoin-centred to Ethereum-centred. BitMine chose a structure that also targets staking returns, while Strategy increased cash reserves and maintained its existing bitcoin holdings. Listed companies’ crypto hoarding strategies are increasingly diverging in asset choice and how they are managed.

In BitMine’s latest disclosure, the more notable point than the purchase size is that it put 85 percent of its Ethereum holdings into staking. It shows corporate crypto holding strategies are moving beyond increasing holdings toward validator operations and monetisation structures.