BitMine Buys 42,197 More Ether, Taking Holdings to 5.74 Million

BitMine, the world’s largest corporate holder of Ether, bought 42,197 ETH over the past week, lifting its total holdings to 5,742,237 ETH. That equals 4.8% of Ethereum’s circulating supply of 120.7 million ETH.

BitMine’s crypto assets, cash, marketable securities and strategic investments totaled $11.1 billion, according to a PR Newswire release dated July 6. The holdings include 5.74 million ETH, 206 Bitcoin, $527 million in cash and marketable securities, a $180 million stake in Beast Industries and a $71 million stake in Aitco Holdings.

At an ETH price of $1,800, the company’s Ether holdings are worth about $10.3 billion. BitMine said it has reached 95% of its goal of acquiring 5% of total ETH supply and expects to meet that target in 2026.

BitMine has staked 4,879,157 ETH, or 85% of its total holdings. At $1,800 per ETH, those staked tokens are worth about $8.8 billion. As of July 7, the annualized yield was 2.68%, implying annual staking income of about $235 million. If all of its ETH were staked, annual rewards would be about $277 million, the company said.

Chairman Tom Lee said investors have become more optimistic in recent days about the chances that the CLARITY Act, a US bill on crypto market structure, will pass. Prediction markets put the odds at about 50%, the highest level in the past two weeks, he said.

Regulatory clarity would be an important milestone in making digital assets, especially smart-contract platforms such as Ethereum, part of everyday life, Lee said. Ethereum layer-2 networks already serve as back-end infrastructure for USDC transactions involving Shopify and Visa.

The recent rise in the ETH-to-Bitcoin ratio shows the market is increasingly pricing in the likelihood that the CLARITY Act will pass, he added.

BitMine was added to the Russell 1000 large-cap index on July 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.

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