Bitmine Holds 5.7M ETH, Approaches Tom Lee's 5% Target; Added to Russell 1000 as ETH Price Dips 8%

News Editor

2026-06-30 14:31:27

Bitmine has increased its Ethereum holdings to 5.7 million ETH, representing 4.7% of total supply and nearing Tom Lee's 5% target. The company's inclusion in the Russell 1000 Index is expected to attract passive institutional inflows. Meanwhile, ETH price fell 8% and BMNR shares dropped 13% weekly, down over 90% from yearly highs. Staking yields are estimated at $246 million annually.

BitmineEthereumETHRussell 1000Tom Leeaccumulationstaking yieldstock crash

Accumulation and Index Inclusion

Bitmine has boosted its Ethereum holdings to 5.7 million ETH, equivalent to 4.7% of the total supply, edging closer to the 5% target set by prominent bull Tom Lee. The company's stock has been added to the Russell 1000 Index, which is expected to drive significant passive institutional capital inflows.

Market Reaction and Staking Revenue

Despite the increased holdings, ETH price declined 8% over the same period, and Bitmine's stock (BMNR) fell 13% in the past week, now trading over 90% below its year-to-date high. However, Bitmine's staked ETH is projected to generate approximately $246 million in annual yield, providing a stable income stream.

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

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