BitMine Ethereum holdings hit 5.7M ETH — now 4.7% of total supply

BitMine Immersion Technologies has quietly built one of the most concentrated positions in any major crypto asset by any single publicly traded company — and it just got bigger. The company’s BitMine Ethereum holdings now stand at 5.70 million ETH, after adding another 27,084 ETH in a single week, cementing its status as the world’s largest corporate Ethereum treasury.

Key takeaways

• BitMine added 27,084 ETH last week, bringing total holdings to 5.70 million ETH — roughly 4.7% of Ethereum’s entire circulating supply.
• 4.88 million ETH of those holdings are currently staked, generating a projected annualized staking revenue of approximately $211 million.
• The company holds $555 million in cash and marketable securities, providing significant financial runway for further accumulation.
• BitMine joined the Russell 1000 Large-cap Index on June 26, 2026, a development expected to draw significant institutional investor inflows.
• The company launched MAVAN (Made in America Validator Network), its institutional-grade staking platform, now handling the bulk of its staked ETH.

Significant Increase in BitMine’s Ethereum Holdings

One week. Nearly $42 million worth of ETH added at prevailing prices. That’s the pace BitMine is running at as it continues what Tom Lee, the company’s chairman, calls “the early stages of crypto spring.”

Recent Acquisition and Total Holdings

As of June 28, 2026, BitMine’s treasury holds 5,700,040 ETH, valued at approximately $1,569 per ETH at the time of reporting. The most recent weekly tranche of 27,084 ETH keeps the company on a steady accumulation rhythm it has maintained throughout 2026. Lee confirmed the pace directly: “During the last week, we acquired 27,084 ETH. We continue maintaining a constant accumulation pace throughout 2026.”

Beyond ETH, the portfolio includes 205 Bitcoin, a $180 million stake in Beast Industries, a $74 million position in Eightco Holdings, and $555 million in cash and marketable securities. That cash pile matters — it means BitMine has substantial dry powder to keep buying without needing to tap equity markets again immediately.

Share of Ethereum Network Supply

At 5.70 million ETH against a total network supply of approximately 120.7 million ETH, BitMine now controls 4.7% of all ETH in existence. That’s not a rounding error — it’s the kind of concentration that makes BitMine a structurally relevant actor in Ethereum’s ecosystem, whether or not that was the original intent.

For context, this positions BitMine as the second-largest publicly disclosed crypto treasury globally, trailing only Strategy Inc., which reportedly holds 847,363 BTC valued at around $50 billion. The difference is that BitMine’s bet is entirely ETH-native, making it uniquely exposed to Ethereum’s protocol evolution — and uniquely positioned to benefit from it.

The company’s own internal target — what Lee calls the “alchemy of 5%” — refers to owning 5% or more of total ETH supply. At 4.7%, that threshold is within reach, and management has indicated it expects to cross it sometime in 2026.

BitMine’s Staking Position and Projected Revenue

Holding ETH is one thing. Putting it to work is another. BitMine has done both at a scale that few institutional players have attempted.

Current Staked Ethereum Amount

Of BitMine’s 5.70 million ETH, a total of 4,879,157 ETH — worth approximately $7.7 billion at current prices — are actively staked. That represents more than 83% of the company’s total holdings deployed in staking, a ratio that signals genuine commitment to yield generation rather than passive custody.

Annualized Staking Revenue Estimates

Based on a 7-day annualized yield of 2.75%, BitMine projects current annualized staking revenue of approximately $211 million. At full deployment through its own infrastructure and partners, that figure could rise to $246 million annually, according to Lee’s own projections.

To put that in perspective: $211 million in annualized staking revenue from a protocol-native activity is not speculative trading income. It’s yield that accrues regardless of short-term ETH price movements, as long as the network continues operating under proof-of-stake. That structural characteristic is what separates BitMine’s staking business from a typical crypto trading operation.

Introduction of MAVAN Staking Platform

Underlying this staking operation is MAVAN — Made in America Validator Network — BitMine’s proprietary institutional staking infrastructure launched in 2026. Initially built to support BitMine’s own treasury operations, MAVAN is designed to expand toward external institutional clients, custodians, and ecosystem partners seeking professional-grade staking infrastructure. A portion of BitMine’s ETH is already staked directly through MAVAN.

This matters strategically. MAVAN transforms BitMine from a pure treasury holder into a potential infrastructure provider for the broader Ethereum staking market. If institutional demand for ETH staking grows — which the direction of regulation and institutional adoption suggests it will — MAVAN is positioned as a ready-made solution, already battle-tested at the largest single-entity scale in the world.

Financial Strength and Market Influence

Cash and Marketable Securities

BitMine’s $555 million cash and securities position is significant for a company whose primary strategy is long-term accumulation. It provides flexibility — the ability to buy dips, fund operations without diluting equity, and absorb short-term volatility without forced selling. Lee noted that the past week was challenging for crypto investors broadly, with ETH declining roughly 8%, partly attributed to end-of-quarter portfolio window dressing. That kind of short-term noise doesn’t appear to be altering BitMine’s accumulation trajectory.

Market Position and Investor Outlook

According to Fundstrat data, BitMine’s stock (NYSE: BMNR) averaged $643 million in daily trading volume over the five days ending June 26, 2026 — ranking it 240th among all 5,704 publicly listed U.S. equities. That places it between Monster Beverages (239th) and Oklo (241st) by trading volume, a remarkable figure for a company whose entire strategy revolves around ETH accumulation and staking yield.

Inclusion in Russell 1000 Index

On June 26, 2026, BitMine was added to the Russell 1000 Large-cap Index during the index’s annual reconstitution. The Investment Company Institute estimates that passive funds and ETFs typically hold between 18% and 20% of any company included in such an index. Lee’s assessment is direct: inclusion is expected to attract “hundreds, even thousands” of additional institutional shareholders who must hold BMNR as part of passive exposure to the Russell 1000.

That’s not a minor milestone. Russell 1000 inclusion creates a structural demand floor for BMNR shares — passive funds don’t trade on sentiment, they rebalance mechanically. For a company accumulating ETH at this pace, a larger and more diversified shareholder base reduces the kind of concentrated selling pressure that can accompany high-volatility crypto assets.

BitMine was also named to the Fortune 100 Crypto List on June 11, 2026, in a ranking compiled with data analysis by Inca Digital and expert surveys, further reinforcing the company’s standing within institutional crypto circles. Earlier, in June 2026, the company raised approximately $273.8 million in net proceeds through an offering of 3,500,000 perpetual preferred Series A shares at $80 per share, with a 9.50% dividend, trading on NYSE under the symbol BMNP with weekly dividend payments.

The broader picture that emerges is of a company that has moved well past the “crypto treasury” novelty stage. With a dominant ETH position, a proprietary staking platform scaling toward institutional clients, Russell 1000 membership, and over half a billion in liquid reserves, BitMine is building infrastructure — not just a balance sheet bet. Whether $211 million in staking revenue becomes $246 million depends on how quickly MAVAN reaches full deployment. That’s the number the market will be watching next.

FAQ

How much Ethereum did BitMine acquire recently?

BitMine acquired an additional 27,084 ETH over the past week, as confirmed in the company’s June 28, 2026 update.

What portion of the Ethereum network supply does BitMine hold?

BitMine’s Ethereum holdings represent approximately 4.7% of the total Ethereum network supply, based on a circulating supply of around 120.7 million ETH.

How much of BitMine’s Ethereum holdings are currently staked?

Currently, 4.88 million ETH — more than 83% of BitMine’s total holdings — are actively staked through the company’s infrastructure and partners.

What is BitMine’s projected annual staking revenue?

BitMine projects annualized staking revenue of approximately $211 million based on current holdings and a 7-day annualized yield of 2.75%. At full deployment through MAVAN and its partners, that figure could reach $246 million annually.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.