Bitmine Hikes ETH Holdings to 5.7M, Nears 5% Target; Added to Russell 1000 Index

News Editor

2026-06-30 10:01:33

Bitmine has increased its Ethereum holdings to 5.7 million ETH, representing 4.7% of total supply, just shy of Tom Lee's 5% target. The company's inclusion in the Russell 1000 Index is expected to attract significant passive institutional capital. However, ETH price fell 8% during the same period, while BMNR stock dropped 13% weekly and over 90% from its yearly high. Its staked ETH is projected to generate $246 million in annualized yield.

Bitmine Nears 5% ETH Target

Crypto mining giant Bitmine has boosted its Ethereum stash to 5.7 million ETH, representing 4.7% of total supply — just 0.3% shy of the 5% target set by founder Tom Lee. To reach the goal, Bitmine would need to acquire approximately 360,000 more ETH, costing roughly $1.2 billion at current prices.

Russell 1000 Inclusion Opens Door to Passive Funds

Bitmine has also been added to the Russell 1000 Index, a key milestone that will trigger automatic buying from passive index funds. This inclusion could provide a steady stream of institutional demand for BMNR shares and enhance the company's liquidity profile.

Market Performance Diverges From Fundamentals

Despite positive news, market conditions remain challenging. ETH fell 8% over the past week, while BMNR dropped 13% and is now more than 90% below its year-to-date high. However, Bitmine's staking operations are yielding an estimated $246 million in annualized returns, providing a cushion for its aggressive accumulation strategy.

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

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