Bitmine increased its ETH holdings by 27,801 coins last week, bringing the total staked amount to 4.917 million coins. The estimated annual staking income is $242 million.

BlockBeats News, July 13th, Bitmine announced that it has added 27,801 ETH to its holdings in the past week and stated that it will continue to maintain its steady accumulation pace since 2026. The company expects to achieve its "Alchemy of 5%" goal within the year.

As of July 12th, Bitmine holds a total of 5.77 million ETH, with 4.917 million ETH (approximately 85% of the holdings) already staked. Based on an ETH price of $1,820, the total value is around $9 billion. The company expects an annual staking income of around $242 million based on a 2.70% annualized staking reward rate, which could reach $284 million if all ETH is staked.

In addition, Bitmine announced that it has launched the institutional-grade Ethereum staking platform MAVAN (Made in American Validator Network) this year and will open it to institutional investors, custodians, and ecosystem partners in the future.

Bitmine stated that it has now become the world's largest ETH reserve institution and ranks second globally in terms of cryptocurrency reserves, after Strategy, which holds 843,775 BTC. The company also mentioned that the implications of the "GENIUS Act" and the U.S. SEC's Project Crypto will drive a transformation in the digital asset financial infrastructure, comparable to the impact of the end of the Bretton Woods system on Wall Street's modernization in 1971.