Bitmine Adds $2.2 Billion in a Week, Is ETH the Core Asset Driver?

US-listed company Bitmine recently disclosed that as of August 24, its cryptocurrency and cash holdings have surpassed $8.82 billion.

The asset composition includes: 1.7139 million ETH, 192 BTC, and $562 million in cash.

🔎 Notably, Bitmine's assets increased by $2.2 billion over the past week, with the core driver being the rapid expansion of ETH holdings:

ETH holdings increased by over 190,000 in a week, rising from 1.52 million to 1.71 million;

BTC holdings remain light at only 192;

Cash reserves are maintained at $562 million, indicating retained flexibility.

📈 Market Interpretation:

Institutional Preference Shifts to ETH — Bitmine clearly positions ETH as the focus of asset allocation, which aligns closely with the recent rise in ETH's influence within the ETF, DeFi, and L2 expansion.

Improving Capital Signals — The $2.2 billion increase sends a positive signal in a cautious market environment, potentially providing some support for ETH's future performance.

Differences in Institutional Positions and Retail Sentiment — While retail investors remain on the sidelines, institutions are significantly increasing their ETH holdings, which may indicate a misalignment between capital and market expectations.

💡 Perspective:

Bitmine's actions are not just a choice of assets for a single company but also a signal — from the long-term perspective of institutions, ETH is gradually replacing BTC as the focus of allocation. For retail investors, it may be worth considering: in the current market of frequent fluctuations, is the long-term value of ETH being re-priced? #btc #eth