BitMine boosts Ethereum holdings to 5,700,040 ETH, about 4.7% of supply

BitMine said its Ethereum treasury stood at 5,700,040 ETH as of June 28, equal to about 4.7% of Ethereum’s 120.7 million supply and roughly 94% of its goal to hold 5% of circulating Ether by 2026. The company said it added 27,084 ETH over the past week and now has 4,879,157 ETH staked, generating estimated annualized staking revenue of about $211 million at a 2.75% seven-day annualized yield. The company said its crypto assets, cash, marketable securities and “moonshots” totaled about $9.8 billion as of June 28 at 3 p.m. Eastern, including 206 Bitcoin, $555 million in cash and securities, a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings. BitMine also said it joined the Russell 1000 Large-cap Index on June 26, closed a June 10 offering of 3.5 million 9.50% perpetual Class A preferred shares for roughly $273.8 million in net proceeds, and listed those shares on the New York Stock Exchange under BMNP. Chairman Thomas “Tom” Lee said Ether’s roughly 8% decline over the past week reflected quarter-end “window dressing” despite positive developments for Ethereum, including the creation of Ethlabs and what he described as a softer stance from the Bank of England on stablecoins. He also said BitMine expects to reach its “5% alchemy” target during 2026, while expanding its MAVAN staking platform for institutional investors, custodians and ecosystem partners.