Ethereum coin for a ProCoinNews article about BitMine's ETH treasury holdings.

BitMine Now Holds 5.7 Million ETH and Is Closing In on 5% of the Supply

By Isaac • June 29, 2026 9:48 am • Comments

BitMine posted its latest holdings update on June 29, 2026, and the headline number keeps growing. The company now holds 5,700,010 ETH.

That sits alongside 206 BTC, a $180 million stake in Beast Industries, a $74 million stake in Eightco Holdings, and cash. BitMine put its total crypto plus what it calls moonshots at $9.8 billion.

The buying did not stop during a rough stretch for the market. BitMine added another roughly 27,084 ETH over the past week.

Trending: Bitcoin Slips Under $60K With a Rare Back-to-Back Quarterly Loss in Sight


Most of the attention on public-company crypto balance sheets has gone to Bitcoin. ETH treasury companies are now starting to look like a second wave of that same trade.

The Block put the weekly ETH addition into supply-scale terms. The Block posted that BitMine added 27,084 ETH last week and brought its treasury to 5.7 million ETH.

It also said the company was 94 percent of the way to owning 5 percent of ETH’s total supply. That supply framing is why the story is bigger than a single weekly purchase.

When an equity-listed company approaches that kind of share of a major network’s token supply, the treasury trade becomes a structural market question. Investors have to ask how much ETH exposure they are really buying through the stock and what premium or discount they are paying for the corporate wrapper.

The post also noted Tom Lee’s comment that the week was challenging as BMNR shares moved lower. That keeps the story balanced.

A large treasury position can attract attention, but it does not remove volatility.


CoinDesk added the market backdrop around Tom Lee’s explanation. CoinDesk reported that Tom Lee blamed recent crypto weakness on quarter-end window dressing while BitMine added another $43 million of ETH.

That matters because the purchase did not happen in a quiet tape. The update arrived during a stretch when crypto prices and crypto-linked equities were under pressure.

Lee’s explanation gives the company-side read on the weakness, but it should not be treated as the final word on why markets moved. Quarter-end positioning can matter, especially when funds reduce exposure or clean up books before reporting dates.

Still, public-company crypto treasuries trade on more than spot token prices. They also trade on dilution risk, financing structure, investor appetite and confidence in management’s strategy.

CoinDesk’s report helps the article keep both sides in view. BitMine was buying ETH into weakness, and the stock-market wrapper around that ETH can behave very differently from ETH itself.

That is the risk readers need in plain English.

Cointelegraph gave a second market-news confirmation of the weekly ETH addition. Cointelegraph posted that BitMine added 27,084 ETH over the past week and brought total holdings to 5.7 million ETH.

That gives the article a second fresh marker for the core purchase number. The value of the embed is not that it changes the story.

It confirms that the weekly addition is the point the crypto market is watching. From there, the article can explain why ETH treasury plays are different from Bitcoin treasury plays.

ETH has staking, DeFi utility, smart-contract demand and protocol-level economics that do not map perfectly onto the Bitcoin balance-sheet model.


One thing worth keeping straight: the ETH token holdings are not the same as the company’s market value. A big treasury number is a measure of what BitMine owns, not a promise of how BMNR or ETH will trade.

The accumulation is real and the scale is serious. Whether that turns into a durable model for public crypto exposure is the part the market still has to decide.

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