Bitmine Boosts ETH Holdings to 5.7 Million, Nears Tom Lee's 5% Target, Joins Russell 1000 Index

News Editor

2026-06-30 21:01:48

Bitmine has increased its Ethereum holdings to 5.7 million ETH (4.7% of total supply), approaching Tom Lee's 5% target. The company's inclusion in the Russell 1000 Index is expected to attract significant passive institutional capital. Despite the news, ETH dropped 8% and BMNR shares fell 13% weekly, down over 90% from the year's high. Annualized staking rewards are estimated at $246 million.

BitmineEthereumETHRussell 1000 IndexTom Leeinstitutional accumulationstaking rewards

Bitmine Expands ETH Position, Nears 5% Threshold

Bitmine has increased its Ethereum holdings to 5.7 million ETH, representing 4.7% of the total ETH supply, inching closer to the 5% target set by veteran analyst Tom Lee. The company has also been added to the Russell 1000 Index, a move that could bring in substantial passive institutional capital and enhance its market profile.

Market Reaction and Staking Returns

Despite the accumulation news, ETH price fell 8% in the same period, and BMNR shares dropped 13% weekly, plunging over 90% from their 2026 highs. Bitmine's staking rewards from its massive ETH stake are estimated at $246 million annually, providing a significant revenue stream for the company.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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