Key Highlights
- Bitmine purchased an additional 42,197 ETH in its latest accumulation.
- Nearly 4.88 million ETH are staked through Bitmine’s MAVAN platform.
- Bitmine expects annualized staking revenue to potentially exceed $235 million.
Bitmine (NYSE: BMNR), an Ethereum-focused treasury firm, has expanded its Ethereum holdings with its latest weekly purchase of 42,197 ETH, bringing its total holdings to 5,742,237 ETH as of June 28, 2026.
According to the company’s announcement, the holdings contributed to its total assets reaching $11.1 billion. Chairman Thomas Tom Lee said the latest purchases were made at a faster pace than the previous week, signaling confidence in the early stages of a “crypto spring.” Bitmine now controls about 4.8% of the total ETH supply of 120.7 million tokens, a concentration that reflects its bet on Ethereum’s long-term value.
“Over the past week, we acquired 42,197 ETH, increasing our pace from the prior week. We continue to maintain a steady pace of accumulation throughout 2026,” Lee stated. The company anticipates reaching the “alchemy of 5%” ownership sometime this year, as it currently touches 95%.
Bitmine’s holdings beyond Ethereum
A portion of these holdings, 4,879,157 ETH valued at roughly $8.8 billion, are staked through Bitmine’s proprietary MAVAN (Made in American Validator Network) platform.
The staking infrastructure, initially built for Bitmine’s own treasury, is also expanding to serve external institutional investors and partners. At current levels, staking operations generate yields, with a recent 7-day annualized figure of 2.68%. Lee projected annualized staking revenues at $235 million, potentially scaling to $277 million when fully optimized.
Beyond Ethereum, Bitmine’s treasury includes 206 Bitcoin, a $180 million stake in Beast Industries, $71 million in Eightco Holdings, and $527 million in cash and marketable securities. While Strategy Inc. leads overall corporate crypto holdings with its Bitcoin position valued near $54 billion, Bitmine is focused on building its Ethereum treasury.
ETH shows volatility
At the time of this writing, Ethereum (ETH) is trading at $1,744.53, reflecting a 1.21% decline over the past 24 hours, according to CoinMarketCap. The price has experienced notable volatility, with a daily low near $1,728.97 and a high reaching $1,805.91.
Trading volume stands at $11.14 billion, while market capitalization sits at approximately $210.53 billion. Despite the short-term pullback visible on the 24-hour chart, marked by a late-session red candle, ETH maintains a strong weekly performance, up roughly 11.9% over the past seven days.
The token continues to hold above key support levels near $1,730, with resistance around $1,800. Ongoing market sentiment appears mixed, influenced by broader crypto flows and regulatory developments, though ETH’s longer-term uptrend remains intact amid solid staking yields and ecosystem activity.
Previous Ethereum purchases
In its previous treasury update released on June 29, 2026, Bitmine said its combined crypto, cash, and investment holdings reached $9.8 billion.
According to that report, as of June 28, the company held 5,700,040 ETH valued at $1,569 per token, adding roughly 27,084 ETH over the past week. This brought Bitmine’s Ethereum position to approximately 4.7% of total supply, placing it 94% toward its “Alchemy of 5%” goal.
The firm also reported 4,879,157 ETH staked (valued at around $7.7 billion), up significantly from the prior week. Additional assets include 206 BTC, a $180 million stake in Beast Industries, $74 million in Eightco Holdings, and $555 million in cash and marketable securities.
Also Read: MSTR Opens 4.5% Lower on Nasdaq After Strategy Sells Bitcoin
