{"id":45069,"date":"2026-06-29T13:08:09","date_gmt":"2026-06-29T13:08:09","guid":{"rendered":"https:\/\/financialrush.com\/?p=45069"},"modified":"2026-06-29T13:08:09","modified_gmt":"2026-06-29T13:08:09","slug":"bitmine-buys-another-27000-eth-despite-market-slump-nears-5-of-ethereum-supply","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=45069","title":{"rendered":"Bitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply"},"content":{"rendered":"

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The former major bitcoin miner has expanded its Ethereum treasury once again during a week in which the asset slumped by over 8% and dived to a multi-month low of $1,500 before it found some support.<\/p>\n

Bitmine Immersion Technologies now holds just over 5.7 million tokens, equivalent to approximately 4.7% of Ethereum\u2019s total circulating supply of 120.7 million coins.<\/p>\n

Bitmine Buys Again<\/h2>\n

Based on an ETH price of $1,570 as of June 28, the company\u2019s total crypto, cash, and investment holdings stand at roughly $10 billion. The firm has reinforced its position as the world\u2019s largest corporate holder of ETH and the second-largest public crypto treasury behind Strategy, which announced<\/a> a new initiative this week, not a new BTC purchase.<\/p>\n

Chairman and long-term ETH bull Tom Lee acknowledged the recent weakness across the entire market but maintained that Bitmine\u2019s long-term outlook remains unchanged.<\/p>\n

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\u201cThis past week was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins. We are nearing quarter-end for June, and it is not surprising to see \u2018window dressing\u2019 leading to investors reducing their holdings in assets which have fallen in the past 3 months,\u201d added Lee.<\/p>\n<\/blockquote>\n

He doubled down on his belief that Ethereum will eventually benefit from Wall Street\u2019s migration toward blockchain-based financial infrastructure and the emergence of agentic AI payment systems operating on crypto rails.<\/p>\n

The press release shared by the firm also noted<\/a> that Bitmine has staked almost 4.9 million tokens (over 85% of its total holdings) through its own institutional staking platform, MAVAN. The current staking yield of 2.75% means that its annualized revenue will be around $211 million.<\/p>\n