BitMine Immersion Technologies added 76,881 ETH to its treasury after raising $274 million through a preferred stock offering. This $136 million purchase brings the company’s total Ether holdings to about 5.62 million ETH, making it the largest Ethereum-focused treasury company.
This purchase comes after a record week when BitMine bought nearly 127,000 ETH. While the latest buy was smaller, it shows the company is still focused on building its Ether holdings, even though there were earlier signs that buying might slow as it neared its goal of holding about 5% of Ethereum’s supply.
Chairman Thomas Lee said the company thinks recent drops in Ether prices do not match the improvements in the network’s fundamentals. This belief seems to be behind BitMine’s ongoing buying strategy.
Besides Ether, the company also owns Bitcoin, cash reserves, and other investments, bringing its total crypto, cash, and investment assets to about $10.4 billion. The preferred stock offers a 9.5% annual dividend and will trade on the New York Stock Exchange under the ticker BMNP.
BitMine says Ethereum staking rewards give it a steady source of income to help pay dividends. The company estimates annual staking rewards could reach about $219 million.
This approach is similar to financing strategies used by Bitcoin treasury firms, but BitMine thinks staking revenue gives it an extra edge as it grows its Ethereum-focused balance sheet.
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BitMine provided its latest holdings update for June 15, 2026$10.4 billion in total crypto + “moonshots”:
– 5,620,754 ETH at $1,718 per ETH per ETH (per @coinbase)
– 204 Bitcoin (BTC) – $200 million stake in Beast Industries @MrBeast
– $89 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 15, 2026
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