BitMine nears 5% of Ethereum supply with 5.74M ETH

A single public company is getting close to owning 5% of all ETH, a scale that could affect how investors read Ethereum supply, staking flows, and listed equity exposure. BitMine said it held 5,742,237 ETH as of its latest update, equal to 4.8% of Ethereum's roughly 120.7 million token supply.

The company also said its total crypto, cash, marketable securities, and strategic holdings were worth $11.1 billion on June 28. Of its ETH position, 4,879,157 ETH was staked as of July 5. Using an ETH price of $1,800, BitMine valued that staked amount at about $8.8 billion, or roughly 85% of its total ETH holdings.

That size matters in three ways. First, it concentrates a large share of ETH in one treasury, which can influence liquid supply and large-holder behavior. Second, staking turns BitMine into a major participant in Ethereum's validator economy rather than a passive holder. The company projected $235 million in current annualized staking revenue and $277 million in annualized rewards if its full ETH position is staked through MAVAN and other staking partners, based on a 2.68% seven-day BMNR yield.

BitMine also said BMNR joined the Russell 1000 Large-cap Index on June 26, giving passive equity investors another route into ETH-linked exposure.