Bitmine stacks 5.28M ETH worth $12.6B — nearly 4.4% of total supply now staked and earning!

Bitmine has disclosed a $12.6 billion total position in crypto, cash, and early-stage bets, with 5,278,462 ETH at the core — equivalent to 4.37% of Ethereum's entire 120.7 million token circulating supply. The scale of the holding makes Bitmine one of the largest single institutional ETH holders on record.

Of that stack, 4,712,917 ETH are actively staked as of May 17, generating $289 million in annualized staking revenue at a 2.80% seven-day yield. That yield stream transforms the treasury from a passive price bet into a self-funding operation — the company is effectively earning a nine-figure annual return simply by locking its existing position into Ethereum's validator set.

The disclosure lands as institutional appetite for ETH-native yield strategies is accelerating. Controlling 4.37% of supply while staking 89% of that holding is a structural statement: Bitmine is not trading…