BitMine Adds 27,084 ETH As Treasury Reaches 5.7M Tokens

BitMine Immersion Technologies added 27,084 ETH over the past week, lifting its Ethereum treasury to 5,700,040 tokens as Tom Lee’s “Alchemy of 5%” strategy moves closer to its supply target.

The company now owns about 4.7% of Ethereum’s 120.7 million token supply. At BitMine’s June 28 reference price of $1,569 per ETH, the ETH position was worth roughly $8.94 billion, while total crypto, cash, marketable securities and strategic equity holdings stood at about $9.8 billion.

BitMine also holds 206 BTC, $555 million in cash and marketable securities, a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings. The Eightco position gives BMNR indirect exposure to one of the few listed equities tied to OpenAI-linked market narratives.

The fresh purchase follows a difficult week for Ethereum, with Lee noting that ETH fell 8% as quarter-end positioning weighed on assets that had declined over the prior three months. BitMine had already reported 5.67 million ETH last week, making the new update a smaller but still meaningful addition to the largest public Ethereum treasury.

Staked ETH Becomes Core Yield Engine

BitMine has staked 4,879,157 ETH, worth about $7.7 billion at the same $1,569 reference price. That means more than 85% of the company’s ETH stack is now tied to staking infrastructure.

The company’s MAVAN platform, short for Made in America VAlidator Network, was built to support BitMine’s own Ethereum treasury and is intended to expand toward institutional investors, custodians and ecosystem partners.

Annualized staking revenue is now projected near $211 million at the current staking level. If BitMine’s ETH becomes fully staked through MAVAN and staking partners, annualized rewards are projected near $246 million using a 2.75% seven-day BMNR yield.

That yield matters because BitMine’s balance sheet is extremely sensitive to ETH price swings. Staking income can add recurring revenue, but it cannot fully offset large mark-to-market pressure if Ethereum remains far below the company’s higher-cost accumulation periods. That risk was already visible after 35,138 ETH moved from BitGo and Kraken into BitMine-linked activity during another weak ETH stretch.

Russell 1000 Entry Adds Equity Market Attention

BitMine was added to the Russell 1000 Large-cap Index on June 26, giving the stock a new route into passive and benchmark-linked ownership. Index inclusion can widen the shareholder base because funds and ETFs tracking Russell benchmarks need exposure to the company after reconstitution.

BMNR has also become one of the most heavily traded U.S.-listed crypto treasury stocks. BitMine’s five-day average daily dollar volume stood near $643 million as of June 26, placing it among the more liquid public-market vehicles tied directly to Ethereum price action.

The company’s Series A Preferred Stock trades on the NYSE under the BMNP ticker after BitMine closed a 3.5 million share offering at $80 per share on June 10. The preferred stock gives the company another capital-market instrument alongside common equity, ETH accumulation and staking revenue. The earlier 9.50% preferred-stock filing had already shown how BitMine was building funding channels around its Ethereum strategy.