Bitmine Nears 5% of Ethereum Supply – Here Is Why ETH Investors Are Paying Attention

• Bitmine now holds 5.7 million ETH, equal to approximately 4.7% of Ethereum’s circulating supply.
• More than 85% of its Ethereum holdings are already staked, generating an estimated $211 million in annualized staking revenue.
• The company also joined the Russell 1000 Index, a move that could increase institutional interest.

Bitmine Immersion Technologies is closing in on one of the most ambitious Ethereum accumulation strategies in the crypto industry. The company announced it purchased more than 27,000 ETH over the past week, bringing its total holdings to approximately 5.7 million ETH, or about 4.7% of Ethereum’s circulating supply.

The latest acquisition means Bitmine has completed roughly 94% of its stated objective of accumulating 5% of all Ethereum, further cementing its position as one of the world’s largest corporate ETH holders.

Bitmine Continues Building Its Ethereum Treasury

The additional purchase pushes Bitmine closer to its long-term accumulation target while reinforcing its strategy of treating Ethereum as a core treasury asset.

In total, the company now manages approximately $9.8 billion in assets, including cryptocurrencies, cash, marketable securities, and strategic investments. Alongside its Ethereum holdings, Bitmine also owns 206 Bitcoin, maintains roughly $555 million in liquidity, holds a $180 million investment in Beast Industries, and owns approximately $74 million worth of Eightco, one of the few publicly traded companies providing indirect exposure to OpenAI.

The diversified portfolio allows Bitmine to maintain exposure to several high-growth sectors while keeping Ethereum at the center of its digital asset strategy.

Staking Generates Hundreds of Millions in Revenue

Unlike companies that simply hold crypto assets, Bitmine is actively generating income from its Ethereum treasury.

Through its institutional staking platform, MAVAN, the company has already staked approximately 4.9 million ETH, representing more than 85% of its total holdings. By participating in Ethereum’s proof-of-stake network, Bitmine earns recurring staking rewards while helping secure the blockchain.

Management estimates its current staking operation can generate approximately $211 million in annualized revenue. Once all of its Ethereum holdings are fully deployed through MAVAN and partner validators, annual staking income could rise to around $246 million.

The growing revenue stream gives Bitmine an additional source of cash flow beyond appreciation in Ethereum’s market price.

Russell 1000 Inclusion Could Attract Institutions

Bitmine also announced that it has been added to the Russell 1000 Large-cap Index, an important milestone that may increase institutional ownership.

Many investment funds and index-tracking portfolios automatically purchase shares of companies included in major benchmarks such as the Russell 1000. As a result, the inclusion could generate additional demand for Bitmine shares and further expand institutional participation in the company.

The announcement comes as more traditional financial firms continue increasing exposure to digital assets through publicly traded companies rather than holding cryptocurrencies directly.

Ethereum’s Long-Term Outlook Remains Positive

Despite recent weakness across the broader crypto market, Bitmine Chairman Thomas Lee remains optimistic about Ethereum’s long-term prospects.

Lee pointed to the continued migration of Wall Street infrastructure onto blockchain networks and the rapid growth of crypto-powered payment systems designed for AI agents as major long-term catalysts for Ethereum adoption.

As tokenization, decentralized finance, and blockchain-based financial infrastructure continue expanding, Bitmine believes Ethereum remains well positioned to benefit from increasing institutional demand.

With nearly 5% of Ethereum’s circulating supply already under its control, Bitmine is becoming one of the most influential corporate players in the Ethereum ecosystem.

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