Bitmine boosts Ethereum holdings as it nears supply target
Bitmine Immersion Technologies added 27,084 Ethereum tokens over the past week, bringing its total holdings to 5.70 million ETH and reaching about 94% of its goal to control 5% of the cryptocurrency’s circulating supply.
At a price of roughly $1,569 per ETH, the company’s position represents about 4.7% of Ethereum’s 120.7 million total supply. This cements Bitmine as the largest corporate holder of Ethereum and places it second among firms with the largest digital asset reserves overall.
Treasury value approaches $10 billion
The company’s combined holdings, including crypto, cash, and other assets, total about $9.8 billion. This includes stakes in Beast Industries valued at $180 million, Eightco Holdings at $74 million, and $555 million in cash and securities.
A significant portion of Bitmine’s Ethereum is actively staked. Around 4,879,157 tokens are deployed in staking, worth about $7.7 billion at the end of June. This setup is generating an estimated $211 million in annual revenue, with potential to reach $246 million if full validator participation is achieved, assuming a 2.75% seven-day yield.
Russell 1000 inclusion expands market exposure
Bitmine’s addition to the Russell 1000 Large-Cap Index took effect on June 26, increasing its visibility among equity funds that track the index. These funds typically account for 18% to 20% of a company’s shareholder base, suggesting a likely rise in demand for the stock as portfolios rebalance.
This development comes as the company continues to execute a treasury strategy heavily concentrated in Ethereum, with its holdings now representing a sizable share of the asset’s supply.
Slower accumulation amid market pressure
The company’s pace of Ethereum purchases slowed compared to the previous week, when it acquired 52,203 tokens. The latest weekly addition of 27,084 coins came as Ether’s price fell about 8%, dropping below $1,600 and hitting one of its lowest levels of the year.
The broader market has been under pressure, with nearly $3 billion flowing out of cryptocurrency ETFs over a ten-day span, reflecting a period of heightened risk aversion among traders.
Stock declines as crypto weakness persists
Bitmine’s shares traded around $13.56, down 13% over the week and more than 90% below their 52-week high of $161. The decline highlights the sensitivity of the company’s valuation to movements in digital asset prices.
Despite the recent downturn, earlier data pointed to sustained institutional interest in digital assets. A January survey of 351 decision-makers found that nearly three-quarters planned to increase allocations خلال 2026, underscoring a longer-term commitment even as short-term volatility persists.
Curious about Ethereum’s role in Bitmine’s strategy? Learn the basics in our guide What is Ethereum and how does it work.
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