BitMine holds 4.8% of Ethereum, 0.2 percentage points shy

BitMine holds 5,742,237 ETH, about 4.8% of Ethereum’s estimated 120.7 million token supply, leaving the company 0.2 percentage points short of its stated 5% treasury target.

The company reported total crypto, cash, marketable securities and strategic holdings of $11.1 billion as of June 28. As of July 5 BitMine reported 4,879,157 ETH were staked, roughly 85% of its ETH position.

Using an assumed ETH price of $1,800, the staked portion was valued at about $8.8 billion. BitMine stated it operates part of that stake through its MAVAN vehicle and through third‑party staking partners.

BitMine projected annualized staking revenue of about $235 million at current staking levels. The company projects annualized rewards of about $277 million if its ETH is fully staked through MAVAN and partners, based on a 2.68% seven‑day BMNR yield assumption.

BitMine’s listed equity vehicle was added to the Russell 1000 Large‑Cap Index on June 26, which provides benchmarked and passive investors exposure to the company without direct ETH purchases.

Key outstanding disclosures include the split of staked ETH operated via MAVAN versus external partners, the financing route the company will use for additional ETH purchases, and the firm’s selling discipline for any future token distributions.