BitMine has added another 160,480 Ethereum (ETH) worth about $248.7 million to its staking portfolio, further increasing its position as the largest public company holding Ethereum as a treasury asset.
According to on-chain tracker Lookonchain, the latest move increased BitMine’s total staked ETH to approximately 4.88 million coins, representing around 86% of the company’s total Ethereum holdings. The additional staking comes as BitMine continues to expand its Ethereum-focused treasury strategy while generating income from validator rewards.
Tom Lee(@fundstrat)’s #Bitmine just staked another 160,480 $ETH($248.7M).
In total, #Bitmine has staked 4.88M $ETH($7.56B), 86% of its total holdings.https://t.co/f70iddoJZ2 pic.twitter.com/Uhn4zVrker
— Lookonchain (@lookonchain) June 26, 2026
BitMine grows Ethereum staking position
The latest transaction follows the company’s June 22 treasury update, which showed BitMine held 5,672,956 ETH, 205 Bitcoin (BTC), and about $601 million in cash and marketable securities. The company also disclosed investments in Beast Industries and Eightco Holdings and reported that it carries no debt.
Earlier this week, BitMine also purchased another $90 million worth of Ethereum, continuing an aggressive buying strategy that has made it one of the largest corporate ETH holders. Chairman Tom Lee said the company acquired 52,203 ETH over the previous week, adding that BitMine still views the current market as being in the early stages of a “crypto spring.”
The company has repeatedly stated that its goal is to control around 5% of Ethereum’s total supply during 2026.
Will Russell 1000 inclusion boost investor interest?
BitMine is also set to join the Russell 1000 Index after the market closes on June 26 as part of FTSE Russell’s annual index reconstitution.
The addition places the company before a larger group of institutional investors, as many index funds and asset managers track the Russell benchmarks. While inclusion does not guarantee long-term demand for the stock, it often increases trading activity as passive funds adjust their portfolios.
Staking rewards remain central to treasury strategy
BitMine reported that it had 4,718,677 ETH staked as of June 21, generating annualized staking revenue of roughly $223 million. With more Ethereum now committed to staking, potential rewards could increase further through the company’s validator network and staking partners.
The strategy has also raised debate over the growing concentration of Ethereum among corporate treasury firms. While large holdings can reduce the amount of ETH available on the open market, they also increase exposure to price swings and broader market risks.
Meanwhile, Institutional crypto firms are increasing their activity in DeFi. Galaxy Digital and Sharplink have announced plans for a $125 million onchain yield fund backed mostly by Ethereum holdings. The fund will combine $100 million from Sharplink’s staked Ethereum treasury with $25 million from Galaxy.
Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads and CoinMarketCap Community for seamless access to high-quality industry insights
Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytics.
