BitMine’s Ethereum Holdings Surpass 5.7 Million, Staking Ratio Hits New High
Crypto mining company BitMine (formerly BitMine Immersion Technologies) continued to accumulate Ethereum last week. According to company disclosures, as of June 28, 2026, its total ETH holdings reached 5,700,040 tokens, representing approximately 4.7% of the total Ethereum supply. The firm added 27,084 ETH just last week, underscoring its long-term bullish stance. BitMine’s total assets—including cryptocurrencies, cash, and other investments—are valued at around $9.8 billion. This includes $555 million in cash and marketable securities, 206 Bitcoin, $180 million in equity of Beast Industries, and a $74 million investment in Eightco Holdings.
On the staking front, BitMine’s staked ETH has risen to 4,879,157 tokens, accounting for more than 85% of its total ETH holdings and worth approximately $7.7 billion. At current annualized yields of roughly 3%, this generates about $211 million in stable cash flow each year. The high staking ratio not only reduces selling pressure but also solidifies BitMine’s role as a key participant in the Ethereum ecosystem.
Russell 1000 Inclusion: A Catalyst for Institutional Inflows
BitMine’s chief strategist Tom Lee announced that the company was added to the Russell 1000 large-cap index during the annual reconstitution on June 26, 2026. This milestone is expected to bring hundreds to thousands of new institutional investors to BitMine, as passive funds and ETFs typically hold 18% to 20% of a company’s outstanding shares. Inclusion in a mainstream index significantly enhances BitMine’s visibility and legitimacy among traditional financial players, paving the way for future capital raising and partnerships.
However, in the short term, crypto investors faced a tough week, with ETH prices dropping by around 8%. Tom Lee attributed this to the “window dressing” effect near quarter-end, where investors trim underperforming assets over the past three months. Ethereum was not immune to this trend. Nonetheless, Lee remains optimistic about the long-term trajectory of the crypto industry, citing the ongoing push for on-chain Wall Street infrastructure and agentic AI payment systems as dual drivers. Recent positive developments—such as the Bank of England’s softened stance on stablecoins and the launch of Ethereum ecosystem project Ethlabs—also offer encouraging signals.