Bitmine has boosted its Ethereum holdings to 5.7 million ETH, representing 4.7% of total supply, approaching the 5% target set by Tom Lee. The company's inclusion in the Russell 1000 Index is expected to attract significant passive institutional capital. Concurrently, ETH price dropped 8%, while Bitmine's BMNR shares fell 13% in the week and are down over 90% from their yearly high. Despite the price declines, Bitmine's staked ETH is projected to generate $246 million in annualized returns.
Market Update
Bitmine has increased its Ethereum holdings to 5.7 million ETH, representing approximately 4.7% of the total circulating supply, edging closer to the 5% target previously outlined by analyst Tom Lee. The firm has also been added to the Russell 1000 Index, a move that is expected to channel substantial passive institutional capital into the stock. However, market reaction has been mixed: the price of Ethereum dropped 8% over the same period, and Bitmine's shares (ticker BMNR) declined 13% in the past week, plunging more than 90% from their 2026 peak. Despite the bearish price action, Bitmine's staked ETH holdings are forecast to generate an estimated $246 million in annualized staking rewards, underscoring the long-term income potential of its strategic accumulation.
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