Key Highlights
- BMNR shares climbed 8.3% on Monday following the announcement that Bitmine owns 5.62 million ETH tokens with a market value of $10.4 billion
- The firm’s holdings now represent 4.66% of Ethereum’s circulating supply, achieving 93% progress toward its strategic “Alchemy of 5%” objective
- The company successfully completed a $274 million financing through its 9.50% Series A Perpetual Preferred Stock offering, deploying capital into additional ETH purchases
- During the previous week, Bitmine purchased 76,881 ETH tokens valued at approximately $136 million, representing a decrease from the prior week’s acquisition of 126,971 ETH
- The company maintains its position as the world’s premier ETH corporate treasury and occupies second place among all cryptocurrency treasuries, trailing only Strategy (MSTR)
Shares of Bitmine Immersion Technologies (BMNR) surged 8.3% during Monday’s trading session following the company’s announcement that it currently maintains a position of 5.62 million ETH tokens, presently valued at $10.4 billion.
Bitmine Immersion Technologies, Inc., BMNR
The announcement triggered one of BMNR’s most significant single-session gains this year, coinciding with a 9.23% increase in ETH/USD pricing.
According to Bitmine’s statement, its current position accounts for 4.66% of Ethereum’s total circulating supply of 120.7 million tokens. This achievement brings the organization 93% closer to reaching what management terms the “Alchemy of 5%” benchmark — a strategic objective the company has pursued since implementing its Ethereum accumulation strategy approximately 11 months earlier.
Chairman Thomas Lee indicated his expectation that Bitmine will surpass the 5% ownership level within the current calendar year.
Of the company’s 5.62 million ETH holdings, 4,718,677 tokens are currently staked, representing $8.1 billion in value at the June 14 price of $1,718 per ETH. Anticipated annual staking rewards are projected at approximately $219 million, while present annualized staking income stands at an estimated $226 million based on a 7-day yield calculation of 2.79%.
In addition to its Ethereum position, the organization maintains $502 million in cash and marketable securities, holds a $180 million investment in Beast Industries, and possesses an $88 million stake in Eightco Holdings (ORBS).
Capital Infusion Drives Continued Accumulation
During the past week, Bitmine added 76,881 ETH to its treasury — representing approximately $136 million in value at present market rates. This acquisition volume marks a reduction from the previous week’s accumulation of 126,971 ETH, which represented the company’s largest single-week purchase during 2026.
The recent acquisitions followed immediately after Bitmine completed its $274 million preferred equity offering on June 10. The transaction involved selling 3.5 million units of 9.50% Series A Perpetual Preferred Stock priced at $80 per unit, generating net proceeds of approximately $273.8 million following transaction costs.
The preferred shares, which commenced trading under the BMNP ticker on the NYSE beginning June 16, distribute weekly cash dividends — a financial structure similar to instruments employed by Strategy (MSTR), the prominent bitcoin treasury corporation.
Lee commented on the acquisition strategy directly: “We are maintaining a somewhat elevated pace of buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals.”
Bitmine’s Position Relative to Strategy
Bitmine currently holds the distinction of operating the largest Ethereum corporate treasury globally and maintains the second-largest cryptocurrency treasury across all categories. Strategy (MSTR) continues to lead the sector with 845,256 BTC holdings valued at $54 billion.
Strategy’s preferred equity approach has attracted increased attention lately, with market participants questioning the sustainability of its expanding dividend obligations. Lee has emphasized Bitmine’s staking revenue as a critical competitive advantage — providing predictable cash generation that he maintains can support preferred dividend payments without exclusive dependence on additional capital raises.
Bitmine also received recognition on the Fortune Crypto 100 roster for 2026, which identifies influential organizations within the blockchain industry.
The company’s 9.50% Series A Preferred Stock commenced NYSE trading under the BMNP symbol on June 16, 2026, with weekly dividend distributions scheduled to begin on that date.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
