Bitmine has expanded its Ethereum treasury after purchasing another 27,084 ETH during the past week.
The latest acquisition increased the company’s total holdings to more than 5.7 million ETH. As a result, the Tom Lee-led firm now controls approximately 4.7% of Ethereum’s circulating supply.
BMNR stock moved higher following the announcement. The gain also comes shortly after Bitmine joined the Russell 1000 index.
Bitmine Purchases Another 27,084 ETH
Bitmine confirmed the latest Ethereum purchase in a recent press release.
The company acquired 27,084 ETH over the previous week as it continued its aggressive digital asset accumulation strategy.
Bitmine Chairman Tom Lee said the cryptocurrency market may be entering the early stages of a new growth period. He described this outlook as a potential “crypto spring.”
Lee also repeated the company’s ambition to achieve what it calls the “alchemy of 5%” during 2026. This goal refers to Bitmine owning approximately 5% of the total Ethereum supply.
Bitmine Now Holds More Than 5.7 Million ETH
Following the latest purchase, Bitmine’s Ethereum holdings have increased to just over 5.7 million ETH.
Ethereum’s total supply currently stands at approximately 120.7 million ETH. Therefore, Bitmine’s position represents around 4.7% of all ETH in circulation.
The company is now approaching its 5% ownership target. However, reaching that level would require additional Ethereum purchases.
Bitmine has positioned itself as one of the largest corporate Ethereum treasury holders in the market.
Nearly 4.9 Million ETH Is Being Staked
Bitmine is not simply holding its Ethereum reserves. The company has also placed a large percentage of its ETH into staking operations.
According to the announcement, almost 4.9 million ETH is currently staked. This amount represents roughly 85% of Bitmine’s total Ethereum holdings.
The staked assets are reportedly worth around $7.7 billion at current market prices.
Ethereum staking allows the company to earn rewards while maintaining exposure to the underlying cryptocurrency.
Ethereum Staking Could Generate $211 Million Annually
Tom Lee said Bitmine expects its staking operations to generate approximately $211 million in annualized revenue.
The company’s staked Ethereum recently produced a seven-day annualized yield of around 2.75%.
Although staking yields may change over time, the strategy provides Bitmine with an additional source of income from its ETH reserves.
This revenue could help support the company’s operations while it continues expanding its Ethereum treasury.
Bitmine Joins the Russell 1000 Index
The Ethereum treasury firm also recently entered the Russell 1000 index as part of its annual reconstitution.
The Russell 1000 tracks many of the largest publicly traded companies in the United States. Inclusion in the index could increase Bitmine’s exposure to institutional investors and index-tracking funds.
Tom Lee expects the development to attract hundreds or potentially thousands of new institutional shareholders.
Index inclusion may also improve BMNR stock liquidity and increase demand from investment funds that follow the Russell benchmark.
Ethereum Falls Despite Positive Industry Developments
The announcement followed a difficult week for cryptocurrency investors.
Ethereum’s price declined by approximately 8% during the week. However, Lee highlighted several positive developments within the Ethereum ecosystem.
These included the creation of Ethlabs and a more supportive position toward stablecoins from the Bank of England.
Lee also suggested that quarter-end portfolio adjustments may have contributed to the recent selling pressure.
Investors often reduce exposure to underperforming assets before the end of a reporting period. This process is commonly known as window dressing.
ETH and BMNR Stock Begin to Recover
Ethereum and Bitmine shares recovered following the previous week’s decline.
ETH moved closer to the important psychological level of $1,600. Meanwhile, BMNR stock gained almost 2% shortly after the market opened and traded near $14.
Despite the daily recovery, Bitmine shares remained more than 15% lower over the previous week.
The company’s future performance may depend on Ethereum’s price, staking revenue, and investor response to its aggressive ETH accumulation strategy.
Bitmine Moves Closer to Its 5% Ethereum Target
Bitmine’s latest purchase demonstrates its continued commitment to building one of the world’s largest corporate Ethereum treasuries.
With more than 5.7 million ETH under its control, the company is now close to owning 5% of Ethereum’s total supply.
Its large staking position could also produce significant recurring revenue. In addition, Russell 1000 inclusion may introduce BMNR stock to a wider group of institutional investors.
However, the strategy remains closely tied to Ethereum’s market performance. Further ETH price declines could affect the value of Bitmine’s holdings and its stock price.
