Bitmine increased its holdings by 27,801 ETH last week, bringing its total staked amount to 4.92M ETH. Its annualized staking income is expected to be $242 million.

BlockBeats message, July 13, Bitmine announced that it purchased an additional 27,801 ETH in the past week and said it will continue to maintain its steady accumulation pace since 2026. The company expects to achieve its so-called “5% Alchemy” target within the year.

As of July 12, Bitmine held a total of 5.77 million ETH. Of this, 4.92M ETH (about 85% of its holdings) has been staked. Based on an ETH price of $1,820, the total value is about $9 billion. The company expects that with an annualized staking yield of 2.70%, annualized staking revenue will be about $242 million. If all ETH is fully staked, the annualized staking rewards could reach $284 million.

In addition, Bitmine said it launched an institutional-grade Ethereum staking platform, MAVAN (Made in American Validator Network), this year, and that it will open it to institutional investors, custodians, and ecosystem partners in the future.

Bitmine said it has already become the world’s largest ETH reserves institution, and ranks second globally by the size of its crypto asset reserves, behind Strategy, which holds 843,775 BTC. The company also said that the GENIUS Act and the U.S. SEC’s Project Crypto will drive changes to digital asset financial infrastructure, with an impact comparable to how the end of the 1971 Bretton Woods system drove the modernization of Wall Street for China.