Bitmine Boosts ETH Position; Annualized Staking Income Seen at $226M–$269M

Bitmine increased its Ethereum holdings by 76,881 ETH over the past week, extending its rapid accumulation pace, according to ChainThink citing the latest letter from the company's chairman. The company said the recent pullback in ETH prices fails to reflect improving Ethereum fundamentals and described the broader crypto market as being in an "early bull" stage. As of June 14, Bitmine had 4,718,677 ETH staked, valued at about $8.1 billion at current prices, positioning it among the world's largest Ethereum holders and stakers. Bitmine also announced the official launch of MAVAN, its proprietary institutional staking platform. The company said MAVAN will be rolled out progressively to institutional investors, custodians, and ecosystem partners as it scales its staking infrastructure services, and that a portion of its ETH is already being staked through the platform. Based on disclosed figures, the current staking level implies annualized yield of roughly $226 million to $269 million, with a seven-day average yield of around 2.79%. Management said staking-related earnings are expected to rise as staked volumes expand. Looking ahead, Bitmine said it aims to reach a 5% share of Ethereum's supply by 2026 and will continue building its strategic ETH reserve. Separately, the company declared its third weekly cash dividend for Class A preferred shares at $0.2639 per share, payable on July 6.