BitMine Adds 27,801 Ethereum, Pushing Holdings to 4.8% of ETH Supply

Highlights:

• BitMine now holds 5.77 million ETH, equal to about 4.8% of Ethereum’s total circulating supply.
• Most of the company’s Ethereum is staked, with annualized revenue currently estimated near $242 million.
• Cash, Bitcoin and other investments lift BitMine’s combined crypto and financial holdings to $11.3 billion.

BitMine Immersion Technologies has increased its Ethereum holdings to 5.77 million ETH, bringing the company closer to its goal of owning 5% of the cryptocurrency’s total supply. BitMine announced the updated figures in a July 13 press release, based on its assets as of July 12 at 5:00 p.m. ET.

The company now holds 5,770,038 ETH. BitMine valued the position at about $10.5 billion using an Ethereum price of $1,820 from Coinbase. Its holdings represent around 4.8% of Ethereum’s total supply of 120.7 million tokens.

BitMine calls its target the “Alchemy of 5%.” The company said it is now 96% of the way toward that goal after building its Ethereum position over the past 12 months. Chairman Tom Lee said BitMine bought another 27,801 ETH during the latest week and expects to reach the 5% target sometime in 2026.

BitMine Buys 27,801 ETH, Holdings Reach 5.77M ETH

BitMine said it acquired 27,801 ETH over the past week, lifting total holdings to 5,770,038 ETH, or about 4.8% of Ethereum’s supply, and has staked 4,917,189 ETH. As of July 12, the company also held $482 million in cash and… pic.twitter.com/mPIsOLFZ9c

— Wu Blockchain (@WuBlockchain) July 13, 2026

Most of BitMine’s Ethereum Is Now Staked

BitMine is also using most of its ETH holdings to earn staking rewards. Staking involves committing Ethereum to help support and secure the network in return for rewards. As of July 12, BitMine had staked 4,917,189 ETH, valued at about $9 billion at the price used in the announcement. The staked amount represents around 85% of the company’s total Ethereum holdings.

BitMine said its current staking position could generate about $242 million in annualized revenue. The estimate is based on a seven-day annualized yield of 2.70%. Lee added that annual staking rewards could rise to around $284 million once the company’s ETH is fully staked through its own platform and other staking partners.

The company launched the Made in America Validator Network, or MAVAN, earlier in 2026. BitMine initially developed the platform to manage staking for its own Ethereum treasury. It now plans to expand the service to institutional investors, custodians and other partners.

Cash, Bitcoin and Other Investments Lift Total Holdings

Ethereum makes up the largest part of BitMine’s balance sheet, but the company also holds several other assets. Its portfolio includes 206 Bitcoin, $482 million in cash and marketable securities, a $180 million stake in Beast Industries and a $69 million investment in Eightco Holdings.

Together, BitMine’s cryptocurrency, cash, marketable securities and other investments are worth $11.3 billion, according to the company. BitMine describes the Beast Industries and Eightco positions as “moonshot” investments.

The company also said it remains the largest corporate Ethereum treasury and the second-largest crypto treasury overall, behind Bitcoin-focused Strategy. These rankings are based on the figures provided in BitMine’s announcement.

Russell 1000 Addition Could Expand Investor Exposure

BitMine joined the Russell 1000 Index on June 26 during the index’s annual update. Lee said the addition could bring more institutional investors into the company because many passive funds and exchange-traded funds follow major stock indexes.

In June, BitMine also completed an offering of 3.5 million preferred shares at $80 each. The company received about $273.8 million in net proceeds. Its Series A preferred stock trades on the New York Stock Exchange under the ticker BMNP. 

BitMine’s latest update shows that Ethereum remains at the center of its treasury strategy. The company continues to buy more ETH, stake most of its holdings, and move closer to its 5% supply target.

Tom Lee Remains Bullish on Ethereum and Bitcoin Despite Market Weakness

At the time of writing, Ethereum was trading near $1,778, down 1.44% over the past 24 hours, according to CoinMarketCap.

Despite the current market weakness, BitMine chairman Tom Lee remains bullish on both Ethereum and Bitcoin. He expects Ethereum to recover above $5,000 and Bitcoin to surpass $100,000 before the end of 2026. Lee believes institutional adoption and Ethereum’s potential role in AI-related financial settlements could support its next major recovery.

TOM LEE: BITCOIN OVER $100,000 AND ETHEREUM BACK OVER $5,000 BY YEAR END

He sets a clear test for whether the crypto thesis still holds:

– He sees Bitcoin above $100,000 and Ethereum back over $5,000 by the end of the year
– Bitcoin has been down three quarters in a row but… pic.twitter.com/DFtUka0UrN

— Tom Lee Tracker (Not actually Tom) (@TomLeeTracker) July 12, 2026