Bitmine Immersion Technologies has boosted its status as the largest public corporate holder of Ether by buying another 27,084 ETH for about $43 million, bringing its total to over 5.7 million ETH. The company now holds about 4.7% of Ethereum’s circulating supply, nearing its goal of 5%. Bitmine was also added to the Russell 1000 Index, which could draw more institutional investors to its shares.
Bitmine bought its Ether at an average price of about $1,569 per token. At today’s prices, its ETH is worth nearly $8.9 billion. The company also owns 206 Bitcoin, about $555 million in cash and securities, and has investments in Beast Industries and Eightco Holdings. Altogether, Bitmine’s crypto and investment portfolio totals around $9.8 billion.
While this purchase was smaller than earlier ones, Bitmine is still adding to its Ether holdings. Many other crypto treasury companies have slowed their buying during the recent market downturn.
Chairman Tom Lee said it was a tough week for crypto investors, with Ether dropping about 8% even though there were some positive developments for Ethereum, like the launch of Ethlabs and the Bank of England’s more flexible approach to stablecoins. Lee said some of the recent weakness was due to quarter-end “window dressing,” when institutional investors often cut back on underperforming assets before reporting periods end.
Being added to the Russell 1000 is also a big deal for Bitmine. The index includes the 1,000 largest public companies in the U.S. and is closely watched by mutual funds, ETFs, and pension funds. Many passive funds automatically buy shares of new companies in the index, which could boost long-term institutional ownership.
Lee has said that passive index funds can make up as much as 25% of the market value of companies in the Russell 1000. After the announcement, Bitmine’s shares closed a bit higher, but they have stayed down over the past week as Ether has also fallen.
Even with the recent market downturn, Bitmine remains one of the most active corporate buyers of Ethereum. This shows that institutions are becoming more confident in using Ether as a treasury asset, similar to Bitcoin.
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BitMine provided its latest holdings update for June 29, 2026$9.8 billion in total crypto + “moonshots”:
– 5,700,010 ETH at $1,569 per ETH per ETH (per @coinbase)
– 206 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $74 million stake in Eightco Holdings…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 29, 2026
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