Bitmine Holds 5.7M ETH, Nears Tom Lee's 5% Target, Joins Russell 1000 Index

News Editor

2026-06-30 19:01:42

Bitmine (BMNR) raised its Ethereum holdings to 5.7 million ETH (4.7% of supply), just short of analyst Tom Lee's 5% target. The company's inclusion in the Russell 1000 Index is expected to attract significant passive institutional inflows. Meanwhile, ETH price dropped 8% and BMNR shares fell 13% weekly, down over 90% from their 2026 highs. Annual staking income is estimated at $246 million.

BitmineEthereumETHRussell 1000 IndexTom LeeInstitutional InflowsStaking Yield

Bitmine's ETH Accumulation and Index Inclusion

Bitmine (BMNR) has increased its Ethereum (ETH) holdings to 5.7 million coins, representing approximately 4.7% of the total circulating supply. This accumulation brings the company within striking distance of the 5% target set by well-known analyst Tom Lee. Concurrently, Bitmine has been added to the Russell 1000 Index, a move that is anticipated to drive substantial passive institutional capital inflows, enhancing the stock's liquidity and investor profile.

Market Reaction and Staking Returns

Despite these positive developments, the market response has been mixed. ETH price declined by 8% over the same period, while BMNR shares fell 13% week-over-week and remain more than 90% below their 2026 highs, reflecting investor concerns about high leverage and potential downside risks. On the positive side, Bitmine is generating an estimated $246 million in annual staking yield from its ETH holdings, which partially offsets its cost basis and provides ongoing revenue.

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

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