- Ethereum gained 24% in the past month, beating Bitcoin’s 8% rise.
- BitMine increased its holdings with a purchase of 9,946 ETH.
- Spot Ethereum ETF inflows continue to support ETH demand.
Ethereum has extended its recent rally, outperforming Bitcoin over the past month as institutional demand continues to strengthen.
The latest boost came after BitMine Immersion Technologies announced another large Ethereum purchase, adding more ETH to its treasury and bringing its total holdings to 5,787,414 ETH.
Ethereum gains strength against Bitcoin
Ethereum has continued to outperform Bitcoin over the past month, highlighting renewed investor interest in the second-largest cryptocurrency.
The ETH/BTC ratio recently climbed to 0.03, marking its highest level in around three months.
The hike reflects Ethereum’s stronger performance relative to Bitcoin rather than a decline in Bitcoin’s price.
During the past 30 days, Ethereum gained approximately 24%, compared with Bitcoin’s increase of around 8% over the same period.
Ethereum has also maintained positive momentum across shorter timeframes.
It rose 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%.
Despite the recent rally, Ethereum remains well below its all-time high of $4,946.05, leaving it considerably below its previous peak even after the latest advance.
BitMine expands its Ethereum treasury
BitMine Immersion Technologies has strengthened its Ethereum strategy by purchasing another 9,946 ETH over the past week.
Following the acquisition, the company now holds 5,787,414 ETH worth approximately $11.2 billion based on current market prices.
The latest purchase reinforces BitMine’s position as the largest publicly known corporate holder of Ethereum.
The company has repeatedly stated that it intends to build one of the largest long-term Ethereum treasuries, and the latest transaction moves it closer to that objective.
A key part of BitMine’s strategy is staking its Ethereum holdings rather than leaving them idle.
Around 4.92 million ETH, representing roughly 85% of its total holdings, are currently staked.
This allows the company to generate staking rewards while maintaining its long-term investment in Ethereum.
Share buybacks add to investor confidence
BitMine’s latest Ethereum purchase was accompanied by continued share repurchases.
The company bought back 6.1 million shares during the latest week after repurchasing 5.5 million shares the previous week. Both transactions form part of its authorized $4 billion share buyback program.
Following the buyback update, BitMine’s stock, trading under the ticker BMNR, gained more than 5% following the announcement, reflecting a favorable market response to both the company’s expanding Ethereum holdings and its capital management strategy.
Tom Lee points to improving Ethereum momentum
BitMine Executive Chairman Tom Lee highlighted several indicators that continue to support Ethereum’s recent performance.
According to Lee, the ETH/BTC ratio reaching a three-month high signals improving strength for Ethereum relative to Bitcoin.
He also identified the $2,000 and $2,500 price levels as key resistance zones that traders are watching as the rally continues.
Lee further noted that Ethereum has significantly outperformed Bitcoin over the past month, reinforcing the company’s decision to focus its treasury strategy on ETH rather than other digital assets.
Institutional demand has also remained a major theme in Ethereum’s recent price action.
Continued inflows into spot Ethereum ETFs have provided additional buying pressure, while large treasury purchases from companies such as BitMine have strengthened demand from institutional investors.
