BitMine Stakes 4.71M ETH After Record $237M Buy, Eyes Russell 1000

BitMine Immersion Technologies has completed its largest 2026 Ethereum purchase, acquiring 111,942 ETH for $237 million during the dip below $2,200 and lifting total holdings to 5.39 million ETH (4.47% of supply). The firm has now staked 4.71 million ETH via its MAVAN platform, projecting $276 million in annual rewards, and sits 89% toward its 5% ownership target. Earlier in the week, BitMine added 60,000 ETH and was placed on the Russell 3000, with potential Russell 1000 inclusion after June 26 that could trigger $2–2.5 billion in passive inflows. Chairman Tom Lee cited tokenization and AI-driven supercycle tailwinds as ETH trades near $2,100.