Monitor for continued ETH accumulation pace and staking yield realization; the Russell 1000 inclusion should trigger passive buying over the coming weeks. Watch for Clarity Act legislative progress as a catalyst for ETH/BTC ratio and BMNR's asset value. The preferred stock (BMNP) dividend schedule and weekly payments are a new credit factor to track.
Price Chart
Executive Summary
Bitmine announced ETH holdings reached 5.74M tokens (4.8% of total ETH supply), total crypto + cash + marketable securities of $11.1B, and inclusion in the Russell 1000 Large-cap Index on June 26, 2026. The company also disclosed 4.88M staked ETH generating projected annualized staking revenues of $235M, and closed a $273.8M Series A Preferred Stock offering. This operational update signals continued accumulation toward the 'Alchemy of 5%' goal and potential passive fund inflows from index inclusion.
Key Facts
- ETH holdings: 5,742,237 tokens (4.8% of 120.7M total ETH supply) as of June 28, 2026
- Total crypto + cash & marketable securities + 'moonshots': $11.1B, including $527M cash & marketable securities
- Added to Russell 1000 Large-cap Index on June 26, 2026
- Staked ETH: 4,879,157 (85% of total ETH), projected annualized staking revenues of $235M (current) and $277M when fully staked
- Closed offering of 3.5M shares of 9.50% Series A Perpetual Preferred Stock at $80/share, net proceeds ~$273.8M
- Average daily dollar volume of $543M (4-day avg as of July 2, 2026)
Financial Impact
Total holdings of $11.1B vs. market cap of $8.2B implies a discount to asset value; Russell 1000 inclusion expected to drive passive fund inflows (ICI estimates 18-20% of shares held by passive funds). Staking revenue projection of $235M annualized is material relative to current operations.
Risk Factors
- ETH price volatility directly impacts reported asset values and NAV discount
- Regulatory uncertainty around Clarity Act and GENIUS Act passage
- Dilution from 3.5M preferred shares (9.50% cumulative dividend) adds fixed cost burden
- Forward-looking staking revenue projections depend on ETH staking yields and full deployment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-032090 |
| Exhibit: ex99-1.htm | 0001493152-26-032090 |
| Document: 0001493152-26-032090-index-headers.html | 0001493152-26-032090 |
| Document: 0001493152-26-032090-index.html | 0001493152-26-032090 |
| Document: 0001493152-26-032090.txt | 0001493152-26-032090 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $25.76 $23.60 | ▼ −8.39% | ▼ −7.93% | $26.73 (+3.77%) |
Aug 31, 2026 4w ago | 8-K | $25.32 $23.37 | ▼ −7.70% | ▼ −7.01% | $26.73 (+5.57%) |
Aug 24, 2026 5w ago | 8-K | $24.14 $24.82 | ▲ +2.82% | ▲ +2.50% | $26.73 (+10.73%) |
Aug 17, 2026 6w ago | 8-K | $18.73 $18.28 | ▼ −2.40% | ▼ −1.73% | $26.73 (+42.71%) |
Aug 14, 2026 7w ago | 8-K | $18.08 $18.73 | ▲ +3.60% | ▲ +4.07% | $26.73 (+47.84%) |
Aug 10, 2026 7w ago | 8-K | $18.10 $18.09 | ▼ −0.06% | ▲ +0.26% | $26.73 (+47.68%) |
Aug 3, 2026 8w ago | 8-K | $17.42 $18.10 | ▲ +3.90% | ▲ +2.10% | $26.73 (+53.44%) |
Jul 27, 2026 9w ago | 8-K | $17.92 $17.57 | ▼ −1.95% | ▼ −2.19% | $26.73 (+49.16%) |
Jul 20, 2026 10w ago | 8-K | $16.63 $17.23 | ▲ +3.61% | ▲ +2.77% | $26.73 (+60.73%) |
Jul 16, 2026 11w ago | 8-K | $15.44 $15.69 | ▲ +1.62% | ▲ +2.61% | $26.73 (+73.12%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access