Bitmine boosts Ether stash to 5.79 million as ETH beats Bitcoin

Bitmine isn't cooling off its aggressive accumulation strategy as Ethereum continues to outpace Bitcoin's market performance. The firm scooped up another 10,000 ETH over the last seven days, pushing its total treasury to a massive 5.79 million tokens. It's not just sitting on a pile of idle cash, either. Bitmine has already committed roughly 85% of those holdings to its own validator operations to harvest staking rewards. By locking up the majority of its supply, the company is betting heavily on the network's long-term yield rather than just spot price action. This latest buying spree signals a clear preference for Ether’s utility over Bitcoin’s store-of-value narrative in the current climate. With the stash now worth billions, the pressure is on for Ethereum to maintain its lead against the king of crypto. Will other institutional players follow this pivot toward yield-bearing assets?