BitMine Stakes 160,480 ETH, Moves to Lock Up 86% of Treasury Ahead of Russell 1000 Addition
BitMine, chaired by Tom Lee, has shifted a major portion of its Ethereum treasury into staking as it approaches a key equity catalyst: scheduled inclusion in the Russell 1000.
Onchain data flagged by Lookonchain shows the company staked an additional 160,480 ETH, worth about $248.7 million. That brings BitMine's staked balance to roughly 4.88 million ETH, representing about 86% of its total Ethereum holdings, valued at approximately $7.56 billion at current prices.
The move follows BitMine's June 22 holdings update, which reported 5,672,956 ETH, 205 BTC, and $601 million in cash and marketable securities, along with stakes in Beast Industries and Eightco Holdings. The company also said it has no debt.
The timing aligns with BMNR's expected entry into the Russell 1000 on June 26 as part of FTSE Russell's 2026 U.S. index reconstitution, which marks a return to semiannual rebalancing. Index inclusion can trigger near-term flows from passive funds and managers tracking Russell benchmarks, lifting visibility even if it does not translate into sustained demand.
BitMine previously disclosed 4,718,677 ETH staked as of June 21 and has cited annualized staking revenue of about $223 million. The company says staking its full ETH position could increase annual rewards through its validator network and partner arrangements.
Lee highlighted continued accumulation, saying, "Over the past week, we acquired 52,203 ETH," and described the market as still in an early "crypto spring." BitMine has reiterated that ETH accumulation remains a priority into 2026 and has pointed to a longer-term ambition to reach an "alchemy of 5%" of Ethereum's supply. It previously reported another $90 million ETH purchase that lifted holdings to about 4.7% of supply.
BitMine is now the largest public company Ethereum treasury holder, and its wallets and staking flows are closely followed, including via Arkham's entity page. That visibility heightens scrutiny of both growth and exposure to ETH volatility. Large treasury positions can tighten liquid supply, which may support prices, but they also increase concentration risks, particularly if companies borrow against crypto holdings, issue equity, or sell into market stress.
BitMine's BMNP dividend plan links preferred-stock payouts to its Ethereum treasury and staking operations, making staking yield a core component of its public-market profile rather than an ancillary activity.
Market focus is shifting to whether index-related buying can underpin BMNR amid ETH price swings and whether staking income is sufficient compensation for the risks of operating one of the world's largest public Ethereum treasuries. As of June 25, BMNR traded around $13.32 and ETH near $1,550.
