Bitmine Adds 10,399 Ether as ETH Beats Nasdaq in July
Bitmine expanded its crypto treasury to 5.8 million tokens after Ether outpaced top tech stocks last month.
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Key takeaways
- Bitmine acquired 10,399 ETH, bringing its total treasury to 5.8 million tokens.
- Tom Lee highlighted that Ether outperformed the Nasdaq 100 throughout July.
- Corporate accumulation of Ether continues to remove supply from open markets.
Bitmine picked up another 10,399 Ether, pushing its crypto treasury to 5.8 million ETH tokens.
The buy comes right after Tom Lee pointed out a telling stat: Ether actually managed to outperform the tech-heavy Nasdaq 100 index during July.
Treasury Reserves Keep Growing
Bitmine isn't slowing down. Tacking 10,399 ETH onto its reserves locks in its strategy of keeping core crypto assets directly on the corporate balance sheet.
That July run against Wall Street's main tech benchmark gave the asset a clear, measurable edge over traditional equities for the month.
Why it matters
The supply mechanics are straightforward. When corporate treasuries continuously absorb thousands of ETH, floating market liquidity dries up. For traders, watching Ether beat traditional tech indexes offers institutions a concrete reason to keep parking capital in crypto instead of equities.
Source: The Block
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Mia Chen
Mia digs into DeFi and on-chain data, translating protocol mechanics into plain English for everyday readers.
