BitMine, chaired by Fundstrat’s Tom Lee, has accumulated 5.7 million ETH worth about $8.9 billion, putting the company close to its goal of owning 5% of Ethereum’s total supply.
Key Takeaways
•BitMine now holds 5.7 million ETH, valued at approximately $8.9 billion as of June 28.
•The company expects to generate about $211 million in annual staking revenue from its staked ETH holdings.
•BitMine has reached roughly 94% of its goal to own 5% of Ethereum’s total circulating supply.
•The latest update follows another purchase of 27,084 ETH during the past week, continuing its aggressive accumulation strategy.
What Happened?
BitMine Immersion Technologies, whose chairman is Tom Lee of Fundstrat, has expanded its Ethereum treasury to 5,700,040 ETH. At current market prices, those holdings are worth roughly $8.9 billion, making BitMine the world’s largest publicly disclosed corporate holder of Ethereum. According to the company, approximately 4.88 million ETH are actively staked, producing an estimated $211 million in annual staking rewards.
Why the 5% Target Matters
BitMine’s long-term objective is to own 5% of Ethereum’s circulating supply.
Current progress:
•Current holdings: 5.70 million ETH
•Target: Around 6.05 million ETH (5% of supply)
•Progress: Approximately 94% complete, leaving fewer than 400,000 ETH to reach the milestone.
Reaching this level would make BitMine one of the most influential institutional participants in the Ethereum ecosystem.
Why It Matters for Ethereum
Large-scale corporate accumulation can:
•Reduce the liquid ETH available on exchanges.
•Increase the amount of ETH locked in staking.
•Potentially strengthen long-term supply dynamics if demand remains robust.
•Signal growing institutional confidence in Ethereum as a treasury asset.
Bottom Line
BitMine continues to aggressively accumulate Ethereum and is now very close to controlling 5% of the network’s supply. With billions of dollars in ETH already staked and generating an estimated $211 million in annual rewards, the company is positioning itself as both a major institutional investor and a significant participant in Ethereum’s staking ecosystem.
