BitMine Buys 27,084 More Ether, Lifts Holdings to 5.7 Million ETH

BitMine, the world’s largest corporate holder of Ether, bought 27,084 ETH over the past week, lifting its total holdings to 5,700,040 ETH. That equals 4.7% of Ether’s circulating supply of 120.7 million tokens.

PR Newswire said June 29 that BitMine held 5,700,040 ETH as of June 28. At an Ether price of $1,569, the position was worth about $8.9 billion.

BitMine’s digital assets, cash, marketable securities and strategic investments totaled $9.8 billion. The assets include 5.7 million ETH, 206 Bitcoin, $555 million in cash and marketable securities, a $180 million stake in Beast Industries and a $74 million stake in Aethco Holdings.

The company has staked 4,879,157 ETH, worth about $7.7 billion at $1,569 per token. That accounts for more than 85% of its total holdings. Its annualized seven-day yield was 2.75%, implying about $211 million in annual staking income. If all of its Ether were staked, annual rewards would be about $246 million, the company said.

Chairman Tom Lee said the outlook for digital assets remains positive. Wall Street continues to modernize legacy financial infrastructure with crypto-based systems, while agentic artificial intelligence payment systems are also developing on crypto rails.

Still, Lee said last week was difficult for crypto investors, with Ether falling 8%. He also cited positive developments in the Ethereum ecosystem, including the establishment of Ethlabs and a softer stance from the Bank of England on stablecoins. As the end of the quarter approaches, recent weakness appears to have prompted portfolio rebalancing sales in assets that have declined over the past three months, he said.

BitMine was added to the Russell 1000 large-cap index on June 26. Lee said the inclusion could add hundreds, and potentially thousands, of institutional investors to the company’s shareholder base.

BitMine’s 9.50% Series A perpetual preferred stock also trades on the New York Stock Exchange under the ticker BMNP. The company issued 3.5 million shares at $80 each, raising about $273.8 million in net proceeds.

Lee said BitMine bought an additional 27,084 ETH last week and has maintained a steady pace of accumulation throughout 2026. He added that the market remains in the early stages of a “crypto spring” and that BitMine expects to reach its goal of holding 5% of all ETH in 2026.

BitMine is the world’s largest Ethereum treasury company and remains the second-largest digital-asset treasury company globally after Strategy.