BitMine increases holdings again! Holds 5.7 million ETH worth $8.9 billion, annual staking yield exceeds $200 million.

BitMine Announces June Holdings Update: Holds 5.7 Million ETH Worth $9.8 Billion, Just 6% Away from 5% Supply Target, Annual Staking Yield $211 Million.
(Previous Summary: SharpLink Swept 39k ETH in Three Days, Bought the Dip on Ethereum After 8 Months)
(Background: BitMine Posts Support for Strategy's Digital Credit Framework, Two Most Trapped Crypto Companies)

Table of Contents

Toggle

• 5.7 Million ETH, Just 6% Away from 5% Supply Target
• Staking Yield $211 Million, Annualized Return Approximately 2.75%
• Tom Lee's "Crypto Downstream Infrastructure" Thesis
• US Stock Ranking Surpasses Energy Drink Brand

BitMine, the world's largest corporate holder of Ethereum, released its latest holdings update on Monday, reporting 5.7 million ETH as of June 29, valued at $9.8 billion based on Coinbase's quoted price of $1,569 per ETH. Of these, 4.88 million are staked, generating an annualized yield of approximately $211 million, leaving just 6% to reach its target of 5% of Ethereum's supply.

5.7 Million ETH, Just 6% Away from 5% Supply Target

BitMine was founded in 2024 by Fundstrat Chief Strategist Tom Lee, with a core investment philosophy of "Ethereum is Money." According to the latest announcement, the company's holdings structure is as follows:

• 5,700,010 ETH (approximately $9.8 billion, at $1,569 per ETH)
• 206 BTC
• $180 million in equity of Beast Industries (a MrBeast subsidiary)
• $74 million in equity of Eightco Holdings (NASDAQ: ORBS)
• $555 million in cash and marketable securities

Based on Ethereum's current circulating supply of approximately 39k ETH, BitMine's 5.7 million ETH accounts for about 4.87%, just 350k ETH short of the 5% target. At BitMine's average weekly accumulation rate of about 15k ETH, the target could be reached within the next 2-3 months.

Staking Yield $211 Million, Annualized Return Approximately 2.75%

BitMine's staking operations consist of two parts: 4.88 million ETH staked (worth $7.7 billion), with annualized staking yield slightly decreasing from $233 million last week to $211 million, reflecting the ETH price pullback from $1,733 on June 22 to the current $1,569.

BitMine's self-operated staking nodes have a 7-day annualized yield of 2.75%, slightly above the Ethereum network average staking rate of about 2.5%. This means BitMine not only profits from the appreciation of its holdings but also generates stable cash flow through staking, similar to the operation model of a "digital bond."

Tom Lee's "Crypto Downstream Infrastructure" Thesis

In a Fundstrat Monday tweet, Tom Lee pointed out that cryptocurrency is currently in a phase of "headwinds and tailwinds interwoven": Fed rate hike expectations, the delay of the CLARITY Act, AI investment frenzy absorbing liquidity, and private credit crowding out capital inflows are all short-term pressures. However, tokenization as a trend for giants, cryptocurrency as downstream infrastructure for AI, and the long-term momentum of monetary digitalization still support the upside logic for Bitcoin and ETH.

Notably, BitMine recently became a core supporter of Ethlabs. Ethlabs is a newly established Ethereum research lab launched on June 22, co-founded by DeFi builders, core developers, L2 founders, and institutions within the Ethereum ecosystem, with the goal of making Ethereum the settlement layer for the global economy.

US Stock Ranking Surpasses Energy Drink Brand

According to Fundstrat data, BitMine ($BMNR) had a five-day average daily trading volume of $643 million as of June 26, ranking 240th among 5,704 US-listed companies, surpassing Oklo nuclear energy company and trailing only Monster Energy drink. This shows BitMine's liquidity as an "ETH pure-play" is approaching large-cap stock levels.

Unlike Strategy (formerly MSTR, which holds Bitcoin), BitMine's strategy is more focused: over 90% of assets are ETH, and it generates cash flow through staking. In the current market with increased ETH price volatility, this dual-track model of "holdings appreciation plus staking yield" provides institutional investors with a similar "digital bond" framework.