According to Lookonchain data, Bitmine has staked an additional 160,480 ETH worth approximately $248.7 million, bringing its total staked holdings to 4.88 million ETH, representing 86% of its total Ethereum holdings. The latest staking move comes days after Bitmine released its June 22 holdings update, which showed the company held 5,672,956 ETH, 205 BTC, $601 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings with no debt. As per Chairman Tom Lee, the company acquired 52,203 ETH worth approximately $92 million over the past week, maintaining its position as the largest public Ethereum treasury company. The staking activity positions Bitmine to join the Russell 1000 index on June 26, which could expose the company to a wider institutional investor base.
Recent whale activity has intensified alongside institutional buying, with Andreessen Horowitz appearing to purchase $42.62 million worth of ETH on June 23rd through a wallet associated with the firm. According to AMBCrypto reports, this coincided with Bitmine's acquisition of 35,138 ETH valued at $58.65 million from BitGo and Kraken on the same day. The second-largest Ethereum DAT, Sharplink, has also been active, staking an additional 509 ETH this week to bring its total staked position to 22,102 ETH. This whale accumulation occurs as ETH ETFs experienced $540.88 million in outflows in May, indicating broader institutional uncertainty despite the buying activity.
The company's balance sheet now includes approximately $10.7 billion in crypto assets, cash, marketable securities, and strategic investments, including stakes in Eightco and Beast Industries. According to reports, less than a year after launching its Ethereum treasury strategy, Bitmine has accumulated enough ETH to control 4.7% of the asset's supply. The Russell 1000 inclusion matters because many passive funds and large managers track Russell benchmarks, potentially increasing trading activity around new additions. However, it does not guarantee long-term buying pressure, but it can place BMNR in front of a wider investor base. The company's $250 million private placement in June 2025 funded this aggressive accumulation strategy, with the backing of major crypto-friendly capital including ARK, Founders Fund, Pantera, Kraken, Galaxy Digital, and DCG.
While Bitmine remains underwater on its overall Ethereum position, the company reported that staking has become a growing source of revenue. According to the company, 4,718,677 ETH valued at more than $8.2 billion at current prices has already been staked at an average price of $1,733 per ETH. Based on current yields, the company said annualized staking revenue has increased to approximately $223 million. Providing additional projections, Bitmine chairman Tom Lee stated that annualized staking rewards could rise to about $268 million once all of Bitmine's Ethereum is fully staked through MAVEN and its staking partners, attributing the estimate to a 2.73% seven-day BMNR yield. The company's MAVAN platform stakes more than 83% of its holdings, generating recurring income that helps fund preferred-stock dividends and supports the company's reflexive capital machine.
The company's $10.7 billion combined holdings include ether, Bitcoin, cash, and strategic stakes, with the staked position representing a meaningful chunk of the total supply removed from circulation. BMNR traded at $13.32 on June 25, while ETH traded near $1,550. Chairman Tom Lee emphasized the company's intention to keep building up at a steady pace through 2026, believing the market is currently in the early stages of a fresh bullish cycle. However, Bitmine's scale has made it the largest public Ethereum treasury company, with its Arkham entity page becoming a reference point for users tracking wallet activity. This visibility brings attention to both its treasury growth and its exposure to ETH volatility, as large treasury holders can reduce liquid supply but also create concentration risk if they borrow, issue stock, or sell into weak markets.
