Bitmine Acquires 42,197 ETH, Holdings Reach 5.74M; Strategy Sells 3,588 BTC on July 5

According to official statements, Strategy sold 3,588 BTC on July 5 for approximately $216 million to fund quarterly dividends on preferred shares, reducing its bitcoin holdings to 843,775 BTC. Meanwhile, Bitmine announced it acquired 42,197 ETH during the past week, bringing total holdings to 5,742,237 ETH (4.8% of ethereum's circulating supply) and total crypto and cash assets to $11.1 billion.

Bitmine Chairman Tom Lee stated the company is staking approximately 4,879,157 ETH, valued at $8.8 billion, through its Made in America Validator Network and other partners. The company projects annualized staking rewards could reach approximately $277 million once fully deployed.