#BitMine now holds 5.7 million $ETH worth $8.9 billion—with annualized staking revenue reaching $211 million Tom Lee’s BitMine Immersion Technologies has just released its latest treasury update, and the figures are stunning. As of June 28, the company held 5,700,040 ETH, worth approximately $8.94 billion based on a reference price of $1,569 per token. This represents 4.7% of Ethereum’s total circulating supply of 120.7 million coins. Key highlights The breakdown of BitMine’s holdings reveals a well-structured accumulation strategy: · Staked ETH: 4,879,157 ETH, worth approximately $7.7 billion and accounting for more than 85% of total holdings. · Estimated annualized staking revenue: $211 million. · Progress toward the 5% target: 94% complete. · Total portfolio value: $9.8 billion, including ETH, cash, securities, and strategic investments. The accumulation machine keeps running In just the past week, BitMine added 27,084 ETH despite ETH falling approximately 8% over the same period. Chairman Tom Lee called it “a challenging week,” but viewed the price weakness as quarter-end window dressing rather than a fundamental shift in market dynamics. The company’s “5% alchemy” strategy continues to advance steadily. Lee expects BitMine to achieve its goal of controlling 5% of all ETH sometime in 2026. Reaching that target will require approximately another 500,000 ETH, with accumulation proceeding at a steady but deliberate pace. Russell 1000 inclusion provides additional momentum On June 26, BitMine was officially added to the Russell 1000 large-cap index. Lee called it a milestone that will expand the investment reach of passive institutional capital and could bring BMNR hundreds or thousands of new institutional equity holders. Inclusion in the index creates a new source of demand for the stock and could support its price, as index-tracking funds will be forced to increase their holdings. The strategy behind this holding BitMine’s approach has one key difference from Strategy’s Bitcoin model: staking yield. Strategy’s BTC sits idle in cold storage, while BitMine’s ETH generates recurring income regardless of its price direction. At current levels, the staked portion alone can generate $211 million in annualized revenue. Lee described current market conditions as a “mini-winter” and remains committed to buying during weakness. His conviction is based on the view that tokenization and AI demand will make Ethereum the settlement layer of the global economy. If this thesis plays out, the holdings could be worth $335 billion based on Lee’s ETH price target of $62,000 Risks that cannot be ignored The other side is equally extreme. BMNR stock has fallen more than 90% from its 52-week high. ETH is down more than 60% from its 2025 peak. If the thesis fails, BitMine will hold billions of dollars in assets while the bottom remains nowhere in sight. The company’s overall valuation is now tied to a single asset class. Any sustained decline in Ethereum could place enormous pressure on both the treasury and the stock. BitMine is engaged in a long-term battle of conviction. While others panic, it is buying yield-generating ETH. Whether this is an act of genius or madness depends entirely on Ethereum’s trajectory from here. For cryptocurrency investors, the key takeaway is simple: watch BitMine’s accumulation pattern. When the largest corporate ETH holder continues buying into a decline, it sends a signal. That signal could mean the smartest money in the market is positioning for a major rebound—or that the early stages of a much larger capitulation are underway. 👉This article is for informational and educational purposes only and does not constitute financial advice. All investment decisions should be based on your own research and risk tolerance.

On October 7, CoinShares’ latest survey showed that a majority of affluent investors in the United States, the United Kingdom, France, Germany, Italy, Sweden and Switzerland already hold crypto assets, which account for approximately 10% of their portfolios on average. The survey covered 2,230 investors with at least $500,000 in investable assets. The crypto asset ownership rate was 54% in Sweden and approximately 70% in the United States, the United Kingdom, Germany and Switzerland. Among investors who already hold digital assets, at least 85% in five of the seven countries said they plan to continue increasing their holdings in 2026, with the proportion reaching 91% in the United States, the United Kingdom and Germany. The crypto market downturn in February did not significantly weaken investment intentions. In all seven countries, more respondents said the market sell-off had increased their willingness to invest than said it had reduced it. The survey showed that long-term appreciation and asset diversification are the main reasons for investing in crypto assets, with only 6% of respondents primarily viewing themselves as short-term traders. Bitcoin remains the most widely held digital asset, with an average of 80% of crypto investors holding BTC; 77% of respondents believe BTC will play an important role in the global financial system in the future, while 79% support stronger regulation of the digital asset market. Meanwhile, approximately 40% of respondents in Switzerland, France, the United States and Germany who work with financial advisers believe that advisers are overly cautious about digital assets. CoinShares said affluent investors’ interest in crypto assets is sharply contrasting with the cautious attitude of the traditional wealth management industry.