Bitmine has increased its Ethereum holdings to 5.7 million ETH, representing 4.7% of the total supply, inching closer to Tom Lee’s 5% target. The company's stock (BMNR) was added to the Russell 1000 Index, potentially attracting passive institutional flows. However, ETH has dropped 8% during the same period, and BMNR shares fell 13% this week, down over 90% from their yearly high. Bitmine’s staked ETH could generate an estimated $246 million in annual yield.
Bitmine Nears 5% ETH Supply Target
Bitmine has boosted its Ethereum holdings to 5.7 million ETH, equivalent to approximately 4.7% of the circulating supply. The accumulation puts the company within roughly 360,000 ETH of Tom Lee’s stated goal of holding 5% of all ETH. The move comes amid an 8% decline in ETH price over the same period.
Russell 1000 Inclusion Prompts Institutional Flows
Bitmine’s stock (ticker: BMNR) has been added to the Russell 1000 Index, which is expected to drive passive institutional buying. Nevertheless, BMNR shares fell 13% in the past week and have collapsed over 90% from their 2026 peak, signaling market skepticism about the company's leveraged ETH strategy.
Staking Yield vs. Market Risk
The majority of Bitmine’s ETH is staked, generating an estimated annual yield of roughly $246 million at current prices. However, the inherent price volatility of ETH and the lock-up period of staked assets pose significant liquidity and downside risks for shareholders.
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