Ethereum News: Bitmine Adds 27,084 ETH as Holdings Hit 4.7% Supply

Key Insights:

• Ethereum news: Bitmine added 27,084 ETH last week, lifting total holdings above 5.7 million ETH.
• Bitmine now owns 4.7% of Ethereum’s 120.7 million ETH supply.
• The firm has staked 4.88 million ETH, representing over 85% of its holdings.

Ethereum News: Bitmine Immersion Technologies increased its Ethereum treasury after adding 27,084 ETH over the past week. The company said its holdings reached 5,700,040 ETH as of June 28, 2026, at 3:00 p.m. ET. That position equals 4.7% of Ethereum’s total supply of 120.7 million tokens. Bitmine also reported total crypto, cash, marketable securities, and moonshot holdings of $9.8 billion. The update comes after BMNR joined the Russell 1000 Large-cap Index on June 26.

Ethereum News: Bitmine Raises ETH Treasury Near 5% Target

Bitmine said its latest purchase this year keeps the company on track toward its stated goal of owning 5% of Ethereum’s supply. Chairman Thomas “Tom” Lee said the firm expects to reach that level sometime in 2026. The company described this target as its “alchemy of 5%” plan.

Bitmine now holds more than 5.7 million ETH. At the reported ETH price of $1,569, its Ethereum balance represented about $8.94 billion. The firm also listed $555 million in total cash and marketable securities.

The company’s wider holdings include a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings. Bitmine said Eightco gives its investors indirect exposure to OpenAI through one of the few public equities linked to that theme. The firm grouped these positions under its moonshot holdings.

Staked ETH Reaches 4.88 Million Tokens

Bitmine reported 4,879,157 staked ETH, valued at about $7.7 billion at $1,569 per token. That stake represents more than 85% of the company’s total Ethereum holdings. The firm said MAVAN, its Made in America Validator Network, serves as a staking platform for its treasury.

MAVAN started as infrastructure for Bitmine’s own Ethereum assets. The company now plans to expand the platform for institutional investors, custodians, and ecosystem partners. Bitmine said that part of its ETH is already on MAVAN.

Lee said annualized staking revenue now stands near $211 million. He also said Bitmine’s own staking operations generated a seven-day annualized yield of 2.75%. If Bitmine fully stakes its ETH through MAVAN and partners, the firm projects annual staking rewards of about $246 million.

Russell 1000 Entry Brings Wider Market Access

Bitmine joined the Russell 1000 Large-cap Index on June 26 during the index’s annual reconstitution. Lee said the move could bring hundreds, and possibly thousands, of institutional investors into BMNR shares. The company cited Investment Company Institute estimates showing passive funds and ETFs often represent 18% to 20% of a company’s shares.

The company also completed a preferred stock offering earlier in June. Bitmine sold 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share. The offering brought in about $273.8 million in net proceeds after costs.

The preferred shares trade on the New York Stock Exchange under the symbol BMNP. Bitmine said the related dividends follow weekly payment terms under the certificate of designations.

BMNR Stock Rises as ETH Holds Near $1,600

BMNR stock traded higher after the company reported its latest ETH purchase. The stock gained almost 2% near the market open and traded around $14, according to TradingView data. However, the stock remained down more than 15% over the past week.

Ethereum also recovered after recent selling pressure. ETH moved near the $1,600 level after falling 8% in the prior week. Lee said investors reduced exposure near quarter-end after weakness across assets that had declined over the past three months.

Bitmine ranks as the largest public Ethereum treasury and the second-largest global crypto treasury, behind Strategy. The firm said Fundstrat data showed BMNR had an average daily trading volume of $643 million over five days through June 26. Bitmine ranked 240th among 5,704 U.S.-listed stocks by that measure.

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