Bitmine has boosted its Ethereum holdings to 5.7 million ETH (4.7% of total supply), inching closer to the 5% threshold identified by Tom Lee, co-founder of Fundstrat. The company's inclusion in the Russell 1000 Index is a major milestone that could channel billions in passive investment. However, market reaction has been negative: ETH price declined 8% over the week, and BMNR shares tumbled 13% weekly, now trading more than 90% below their 2026 peak. Despite the stock slump, Bitmine's staked ETH is expected to generate approximately $246 million in annual staking yield, offering a substantial income stream.
Accumulation Milestone
Bitmine has increased its Ethereum holdings to 5.7 million ETH, representing 4.7% of the total supply, just shy of the 5% target set by Tom Lee of Fundstrat. The company has also been added to the Russell 1000 Index, a key benchmark that could attract significant passive institutional flows.
Price Action
Despite the positive fundamentals, ETH slipped about 8% in the past week, while Bitmine's stock (BMNR) fell 13% during the same period. BMNR has now lost more than 90% of its value since its 2026 high, reflecting market concerns over concentration risk and profit-taking.
Staking Revenue
At current staking yields, Bitmine's 5.7 million ETH would generate an estimated $246 million annually in staking rewards, providing a stable and recurring revenue stream that partially offsets the stock's decline.
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