{"id":3459,"date":"2026-06-29T11:52:16","date_gmt":"2026-06-29T15:52:16","guid":{"rendered":"https:\/\/www.decentralnetwork.org\/news\/?p=3459"},"modified":"2026-06-29T11:52:35","modified_gmt":"2026-06-29T15:52:35","slug":"bitmine-nears-5-ethereum","status":"publish","type":"post","link":"https:\/\/www.decentralnetwork.org\/news\/bitmine-nears-5-ethereum\/","title":{"rendered":"Bitmine Nears 5% Ethereum Ownership as Tom Lee Stays Bullish"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"628\" src=\"https:\/\/www.decentralnetwork.org\/news\/wp-content\/uploads\/2026\/06\/Untitled-design-2026-06-29T212024.405.webp\" alt=\"Bitmine Nears 5% Ethereum Ownership as Tom Lee Stays Bullish\" class=\"wp-image-3460\" srcset=\"https:\/\/www.decentralnetwork.org\/news\/wp-content\/uploads\/2026\/06\/Untitled-design-2026-06-29T212024.405.webp 1200w, https:\/\/www.decentralnetwork.org\/news\/wp-content\/uploads\/2026\/06\/Untitled-design-2026-06-29T212024.405-300x157.webp 300w, https:\/\/www.decentralnetwork.org\/news\/wp-content\/uploads\/2026\/06\/Untitled-design-2026-06-29T212024.405-768x402.webp 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Bitmine is steadily moving closer to one of the crypto industry&#8217;s most ambitious goals\u2014owning <strong>5% of Ethereum&#8217;s total circulating supply<\/strong>. The company&#8217;s latest purchase of Ethereum has pushed its treasury above <strong>5.7 million ETH<\/strong>, strengthening its position as the largest publicly traded Ethereum treasury company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a company announcement released on <strong>June 29<\/strong>, Bitmine acquired an additional <strong>27,084 ETH<\/strong> over the past week. With this latest purchase, the firm&#8217;s holdings now account for approximately <strong>4.7% of Ethereum&#8217;s estimated circulating supply of 120.7 million ETH<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitmine Chairman <strong>Tom Lee<\/strong> reaffirmed that the company remains on course to achieve what he calls the &#8220;<strong>alchemy of 5%<\/strong>&#8221; sometime in <strong>2026<\/strong>, highlighting the firm&#8217;s long-term commitment to accumulating Ethereum.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/finance.yahoo.com\/quote\/BMNR\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bitmine<\/a> Keeps Buying Despite Market Weakness<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The latest accumulation came during a challenging week for the crypto market. Ethereum declined roughly <strong>8%<\/strong>, but Bitmine continued adding to its treasury without slowing its acquisition strategy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company also revealed that nearly <strong>4.9 million ETH<\/strong>, representing around <strong>85%<\/strong> of its total holdings, has been staked. At current market prices, those staked assets are valued at approximately <strong>$7.7 billion<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Staking remains a key part of Bitmine&#8217;s strategy. Tom Lee said the company expects to generate around <strong>$211 million in annualized staking revenue<\/strong>, while its staking operations have recently produced an annualized seven-day yield of <strong>2.75%<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As Bitmine&#8217;s Ethereum holdings continue to grow, investors have increasingly monitored the company&#8217;s <strong>Arkham wallet<\/strong>, which publicly tracks its purchases and staking activity. The wallet has become a popular reference point for those following Bitmine&#8217;s aggressive treasury expansion and its exposure to Ethereum&#8217;s price movements.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Institutional Interest Continues to Grow<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Bitmine also announced that it has officially joined the <strong>Russell 1000 Index<\/strong> following the benchmark&#8217;s annual reconstitution. According to Lee, the inclusion could introduce hundreds or even thousands of additional institutional investors to the company&#8217;s shareholder base.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although Ethereum has struggled in recent weeks, Lee believes the long-term outlook remains positive. He pointed to developments such as the launch of <strong>Ethlabs<\/strong> and the <strong>Bank of England&#8217;s<\/strong> softer stance on stablecoins as encouraging signs for Ethereum&#8217;s broader ecosystem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Addressing the recent decline across cryptocurrency markets, Lee suggested the selling pressure was mainly driven by quarter-end portfolio adjustments rather than weakening confidence in Ethereum.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">&#8220;We are nearing quarter-end for June, and it is not surprising to see &#8216;window dressing&#8217; leading to investors reducing their holdings in assets which have fallen in the past 3 months.&#8221;<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Corporate Ethereum Buying Shows No Signs of Slowing<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Bitmine is not the only public company increasing its Ethereum exposure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Blockchain data shared by crypto analyst <strong>Rain<\/strong> showed that <strong>SharpLink<\/strong> recently acquired <strong>39,196 ETH<\/strong>, valued at approximately <strong>$62.4 million<\/strong>, over a three-day period. The purchases came even as spot Ethereum exchange-traded funds experienced a <strong>seventh consecutive week of net outflows<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Rain argued that these acquisitions suggest corporate treasury managers are positioning for long-term institutional adoption instead of reacting to short-term price fluctuations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitmine&#8217;s capital strategy has also become increasingly tied to Ethereum. Earlier reporting noted that the company&#8217;s <strong>BMNP preferred-share dividend program<\/strong> links shareholder payouts to the size of its Ethereum treasury and the income generated through staking, making staking rewards a central component of its financial model.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum Tests Critical Support<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">From a technical perspective, Ethereum continues trading near a major support level around <strong>$1,510<\/strong>. The daily chart currently shows a <strong>descending triangle<\/strong>, a pattern formed by lower highs meeting horizontal support, indicating that sellers still hold the upper hand while buyers continue defending the same price zone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Momentum indicators also remain cautious. The <strong>Relative Strength Index (RSI)<\/strong> sits near <strong>31<\/strong>, close to oversold territory, suggesting that selling pressure has eased but buyers have yet to regain momentum. Meanwhile, the <strong>MACD<\/strong> remains below the zero line, although it has started to flatten, indicating bearish momentum may be weakening without confirming a trend reversal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If Ethereum breaks above the descending trendline and clears the <strong>$1,700<\/strong> resistance level, it could invalidate the bearish pattern and open the door to the <strong>$1,860 Fibonacci resistance<\/strong>. On the downside, a decisive move below <strong>$1,510<\/strong> would confirm the descending triangle and could send ETH toward the psychological <strong>$1,400<\/strong> support level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With Bitmine continuing to accumulate Ethereum regardless of recent market weakness, the company&#8217;s strategy reflects growing institutional confidence in the digital asset&#8217;s long-term potential.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also read : <a href=\"https:\/\/www.decentralnetwork.org\/news\/xrp-holds-above-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">XRP Holds Above $1 as ETF Demand and Network Activity Stay Strong<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitmine is steadily moving closer to one of the crypto industry&#8217;s most ambitious goals\u2014owning 5% of Ethereum&#8217;s total circulating supply. &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Bitmine Nears 5% Ethereum Ownership as Tom Lee Stays Bullish\" class=\"read-more button\" href=\"https:\/\/www.decentralnetwork.org\/news\/bitmine-nears-5-ethereum\/#more-3459\" aria-label=\"Read more about Bitmine Nears 5% Ethereum Ownership as Tom Lee Stays Bullish\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3460,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[10593,10615,10586,10608,10594,10596,10584,10621,10610,10588,10607,10617,10605,3756,10620,10601,10595,10614,10622,10606,10604,10587,10590,10609,10613,10589,10591,10611,10592,10619,10616,10603,10600,10618,10598,10602,10599,10597,10612,10585],"class_list":["post-3459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitmine-5-percent-ethereum-supply","tag-bitmine-bmnp-preferred-shares","tag-bitmine-buys-ethereum","tag-bitmine-eth-staking-revenue","tag-bitmine-eth-treasury","tag-bitmine-ethereum-accumulation","tag-bitmine-ethereum-holdings","tag-bitmine-latest-news","tag-bitmine-owns-ethereum-supply","tag-bitmine-russell-1000-index","tag-bitmine-staking-ethereum","tag-corporate-crypto-treasury","tag-corporate-ethereum-holdings","tag-crypto-market-news-today","tag-eth-price-outlook","tag-eth-staking-rewards","tag-eth-technical-analysis-today","tag-eth-treasury-growth","tag-ethereum-blockchain-news","tag-ethereum-descending-triangle","tag-ethereum-fibonacci-resistance","tag-ethereum-institutional-adoption","tag-ethereum-macd-analysis","tag-ethereum-market-analysis","tag-ethereum-price-prediction","tag-ethereum-price-support","tag-ethereum-resistance-at-1700","tag-ethereum-rsi-analysis","tag-ethereum-staking-income","tag-ethereum-supply-accumulation","tag-ethereum-support-at-1510","tag-ethereum-treasury-company","tag-ethereum-treasury-strategy","tag-institutional-ethereum-investment","tag-largest-ethereum-treasury-company","tag-public-companies-buying-ethereum","tag-sharplink-ethereum-purchase","tag-tom-lee-bitmine-news","tag-tom-lee-crypto-news","tag-tom-lee-ethereum-strategy","resize-featured-image"],"jetpack_featured_media_url":"https:\/\/www.decentralnetwork.org\/news\/wp-content\/uploads\/2026\/06\/Untitled-design-2026-06-29T212024.405.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/posts\/3459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/comments?post=3459"}],"version-history":[{"count":1,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/posts\/3459\/revisions"}],"predecessor-version":[{"id":3461,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/posts\/3459\/revisions\/3461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/media\/3460"}],"wp:attachment":[{"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/media?parent=3459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/categories?post=3459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.decentralnetwork.org\/news\/wp-json\/wp\/v2\/tags?post=3459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- This website is optimized by Airlift. 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