Bitmine Buys 42,197 ETH, Now Holds 4.8% of Ethereum Supply

Key Insights:

• Bitmine added 42,197 ETH in a week, lifting holdings to 5.74M ETH.
• Its ETH holdings now represent about 4.8% of Ethereum’s circulating supply.
• Ethereum is currently trading at $1,757, keeping Bitmine exposed to price swings.

Bitmine Immersion Technologies has expanded its Ethereum treasury after acquiring 42,197 ETH over the past week. The latest purchase lifted the company’s total Ethereum holdings to 5,742,237 ETH, equal to 4.8% of Ethereum’s circulating supply of 120.7 million ETH.

The update places Bitmine at the center of fresh Ethereum news as its long-term crypto accumulation strategy continues through 2026.

Bitmine Expands Ethereum Holdings

Bitmine said its total crypto, cash, marketable securities, and “moonshots” holdings reached $11.1 billion as of July 5, 2026, at 6:30 p.m. ET. The company’s crypto reserves included 5,742,237 ETH, valued at $1,800 per ETH, and 206 Bitcoin.

Meanwhile, Bitmine also reported $527 million in total cash and marketable securities. Its additional holdings included a $180 million stake in Beast Industries and a $71 million stake in Eightco Holdings, which trades on Nasdaq under the ORBS ticker.

Notably, Chairman Thomas “Tom” Lee said Bitmine increased its ETH buying pace from the previous week. He added that the company has maintained a steady accumulation strategy throughout 2026. Lee also said Bitmine expects to reach its “alchemy of 5%” target sometime this year.

Staked ETH Reaches $8.8 Billion

Bitmine also reported 4,879,157 staked ETH as of July 5. At $1,800 per ETH, the company valued its staked Ethereum at about $8.8 billion. That amount represented nearly 85% of Bitmine’s total ETH holdings.

Additionally, the company said part of its ETH is already staked through MAVAN, its institutional-grade staking platform. Bitmine launched MAVAN earlier in 2026 to support its own Ethereum treasury. The platform also intends to serve institutional investors, custodians, and ecosystem partners.

Lee said Bitmine had staked more ETH than any other entity. He also reported that annualized staking revenue now stands near $235 million. At full scale, Bitmine projected ETH staking rewards of $277 million annually, based on a 2.68% seven-day BMNR yield.

Bitmine (BMNR) Stock Gains More Market Attention

The update also comes after Bitmine joined the Russell 1000 Large-cap Index on June 26 during the index’s annual reconstitution. According to the Investment Company Institute, passive funds and ETFs typically represent 18% to 20% of a company’s shares.

Meanwhile, Lee said the Russell 1000 addition could bring hundreds or thousands of institutional equity owners to Bitmine. The company also closed an offering on June 10 involving 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share.

The offering generated about $273.8 million in net proceeds after underwriting discounts, commissions, and estimated expenses. The preferred stock trades on the NYSE under BMNP, while dividends are scheduled weekly under the applicable terms.

Bitmine also linked its latest positioning to regulatory developments. Lee said prediction markets recently placed the Clarity Act’s passage odds near 50%, marking the highest level in two weeks. He also cited Ethereum layer-2 networks processing USDC transactions for Shopify and Visa.

According to Fundstrat data, BMNR stock traded an average daily dollar volume of $543 million over four days as of July 2. That ranked Bitmine 233rd among 5,704 U.S.-listed stocks, behind Semtech and ahead of TTM Technologies.

Bitmine said it remains the largest Ethereum treasury and the second-largest global crypto treasury. Strategy Inc. ranks first, with reported holdings of 847,363 BTC valued at about $54 billion. During this press, Ethereum is trading at $1,791.

The post Bitmine Buys 42,197 ETH, Now Holds 4.8% of Ethereum Supply appeared first on The Coin Republic.