Bitmine Buys 76,881 ETH, Holdings Reach 5.62M ETH
Bitmine purchased 76,881 ETH, increasing its holdings to 5,620,754 ETH as of June 14, equal to 4.66% of Ethereum’s 120.7 million-token supply.
Bitmine Immersion Technologies purchased 76,881 ETH, bringing its ether holdings to 5,620,754 tokens as of June 14 at 6 p.m. ET. That balance represents 4.66% of Ethereum’s reported 120.7 million-token supply. At that time the company valued ETH at $1,718 per token.
The company’s broader holdings include 204 BTC, $502 million in cash and marketable securities, a $180 million stake in Beast Industries and an $88 million stake in Eightco Holdings. Bitmine reported total crypto, cash, marketable securities and strategic investments of $10.4 billion.
On June 10 Bitmine closed a sale of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share, generating about $273.8 million in net proceeds after fees and expenses. The preferred shares are expected to begin trading on the New York Stock Exchange under the ticker BMNP on June 16. Dividends on the preferred shares are scheduled to be paid weekly, subject to the offering terms.
Staking is a central component of Bitmine’s balance sheet strategy. The company reported 4,718,677 ETH staked, representing more than 83% of its ether holdings and worth roughly $8.1 billion at current prices. Bitmine reported a seven-day annualized staking yield of 2.79% and projected annualized staking revenue of $226 million. The company added that staking rewards could reach $269 million if additional ETH is staked through its MAVAN validator network and partner arrangements. MAVAN (Made in America Validator Network) was built initially for Bitmine’s treasury and is planned for expansion to institutional investors, custodians and ecosystem partners.
Trading in Bitmine’s common shares, ticker BMNR, remained active, with an average daily volume of $550 million over five sessions, ranking the stock 203rd among 5,704 U.S.-listed equities.
Chairman Tom Lee commented, “We believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals.” He projected the company will reach a 5% ownership target of Ethereum’s supply sometime in 2026 and said the 76,881 ETH purchase was added over the prior week while the company maintains an elevated buying pace.
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