Overview
- Bitmine added 26,497 ETH last week, slowing weekly buys by more than 75% and lifting its holdings to about 5.42 million ETH, roughly 4.49% of circulating supply.
- The company says it expects to hit its public goal of owning 5% of Ethereum’s supply during 2026 and has moderated purchases to avoid reaching that target too quickly.
- Bitmine has staked about 4.72 million ETH through its MAVAN validator network, which the firm projects will generate roughly $258 million in annualized staking revenue at current yields.
- Falling ETH prices have left Bitmine with large paper losses on the treasury, market data estimate about $8.9 billion in unrealized losses and have put pressure on BMNR shares.
- Chairman Tom Lee is publicly pushing a bullish AI and tokenization case for Ethereum, has said corporate validators now control a meaningful share of supply, and announced Bitmine’s Russell 1000 eligibility for the June 26 index inclusion date.