New York Stock Exchange facade for BitMine Ethereum treasury and Russell index article

BitMine Now Holds 4.47% of All Ethereum in Existence

By Isaac • May 28, 2026 6:28 am • Comments

BitMine Immersion Technologies now controls 5,390,404 ETH, according to an SEC filing dated May 26, 2026. That stack equals 4.47% of the total 120.7 million ETH supply.

The company said it acquired 111,942 ETH during the prior week while Ethereum traded below $2,200.

Trending: Feds Charge Google Employee With Insider Trading on Polymarket in Landmark Prediction-Market Case

BitMine’s filing details a treasury built around staking income at scale. The company reported 4,712,917 staked ETH, valued at $10.1 billion using a $2,134 per-ETH price.

Annualized staking revenue from that position is projected at $276 million based on a 2.75% seven-day yield.

Total holdings, including crypto, cash, and equity stakes, came to $12.3 billion. The breakdown included $444 million in cash, 203 BTC, a $200 million stake in Beast Industries, and a $95 million stake in Eightco Holdings.

From the SEC filing:

The SEC filing says: “Bitmine owns more than 4.47% of the total ETH coin supply of 120.7 million. Bitmine is 89% of the way to the ‘Alchemy of 5%’ in just 11 months.”

It also says the company “recently announced its uplisting to the New York Stock Exchange (‘NYSE’) from the NYSE American on April 9, 2026” and that “as of May 25, 2026 at 1:00pm ET, the Company’s crypto holdings are comprised of 5,390,404 ETH at $2,134 per ETH,” plus 203 Bitcoin, two equity stakes, and $444 million of cash.

The filing says BitMine has 4,712,917 staked ETH, representing $10.1 billion at $2,134 per ETH, and projects annualized staking revenue of $276 million using a 2.75% seven-day BMNR yield. It also says total holdings declined from an average daily cash or crypto AUM of $55 billion since October 1, 2025.

The SEC filing also includes Lee’s explanation for the latest buying round.

In the SEC filing, BitMine chairman Thomas Lee said: “We continue to expect a supercycle ahead for crypto and Ethereum, driven by the dual drivers of Wall Street tokenization and agentic-AI.”

Lee added: “Over the past week, we acquired 111,942 ETH. We view the recent pullback of ETH to below $2,200 as an attractive opportunity.”

He also said BitMine “is expected to reach the ‘alchemy of 5%’ sometime in 2026” and that the company is “down 78% from our average daily cash or crypto AUM since 10/1/2025 of $55 billion” even with $12.3 billion of crypto, cash, and other holdings.

The filing’s company description says BitMine is focused on accumulating crypto for long-term investment and on Ethereum network ecosystem growth. It also says the stock trades on the New York Stock Exchange under the symbol BMNR.

BitMine uplisted from NYSE American to the New York Stock Exchange on April 9, 2026 and trades under the ticker BMNR. The Russell index angle makes the NYSE listing more consequential than a typical exchange move.

BitMine’s own holdings thread put the new treasury scale in one place for readers watching the company as both an equity and an Ethereum proxy.

FTSE Russell’s reconstituted indexes are scheduled to take effect after markets close on June 26, 2026. Inclusion is still preliminary, but the timeline is tight.

A Bitget/Crypto.News report framed the index timeline this way:

The Bitget/Crypto.News report says BitMine “appeared on the preliminary list for Russell 1000 inclusion” according to Fundstrat’s Tom Lee. It says FTSE Russell began its June 2026 U.S. index reconstitution by publishing preliminary lists.

The report says the reconstituted indexes take effect after the market close on June 26, 2026. It also says Russell 1000 inclusion would place BMNR in the large-cap index instead of the small-cap Russell 2000, a distinction that matters because large-cap index products can force a different class of passive equity demand.

Bitget/Crypto.News also describes BMNR as an Ethereum treasury stock with more than 5.2 million ETH at the time of that report. The newer SEC-filed BitMine update lifted that figure to 5,390,404 ETH as of May 25.

The index detail is still preliminary, which is why the article treats June 26 as the key confirmation date instead of calling the addition final today.

If confirmed, every index fund and ETF that tracks the Russell 1000 would need to add BMNR to its holdings.

That would create a direct pipeline between passive equity flows and Ethereum exposure. A company whose balance sheet is overwhelmingly denominated in ETH, sitting inside a major equity index, turns routine equity-market allocation into indirect Ethereum demand.

CoinGecko listed Ethereum as the #2 crypto asset by market cap during the reporting window.

CoinGecko showed ETH at $1,988.52 during the check, with a market cap of $239,997,144,333 and 24-hour trading volume of $17,090,411,293. The page listed circulating supply and total supply at 120,685,415 ETH.

CoinGecko also showed ETH dominance at 9.44%. That top-two market-cap position is why this treasury story sits directly on top of one of the two largest crypto networks, rather than a narrow small-token balance-sheet experiment.

Against that supply figure, BitMine’s 5,390,404 ETH position represents a visible share of the network’s circulating supply. The SEC-filed BitMine update rounded that position to 4.47% of total ETH coin supply.

That scale is what turns BitMine’s buying from a company-specific balance-sheet update into a broader Ethereum market story. It also makes the Russell index angle more important for crypto investors watching public-equity flows.

BitMine is building one of the largest single-entity Ethereum positions ever disclosed in public filings. Whether it reaches the stated 5% target before the Russell reconstitution window closes will determine how much institutional attention lands on BMNR in early summer.

The staking yield alone, projected at $276 million annually, gives the treasury a revenue engine that most corporate crypto holdings lack.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

 

Search ProCoinNews