BitMine Immersion Technologies (BMNR) rose 7.55% to $17.32 after the company reported another Ethereum purchase and updated investors on its crypto, cash, and investment holdings.
The Ethereum-focused treasury company said it acquired 76,881 ETH over the past week, worth about $136 million at current prices. The purchase raised BitMine’s total Ethereum position to 5,620,754 ETH as of June 14, 2026, making it the largest publicly reported Ethereum treasury.
BitMine said its total crypto, cash, marketable securities, and investment holdings reached about $10.4 billion. The portfolio includes 5.62 million ETH, 204 Bitcoin, $502 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings.
BitMine’s Ethereum holdings now represent about 4.66% of Ethereum’s total supply of roughly 120.7 million ETH. The company has described its target as the “alchemy of 5%,” meaning it aims to own 5% of the Ethereum supply.
The latest 76,881 ETH purchase was smaller than the prior week’s 126,971 ETH acquisition, which was the company’s largest weekly purchase of 2026. Even so, the latest update showed that BitMine remains in accumulation mode despite a pullback in ETH prices.
Chairman Thomas “Tom” Lee said the company is maintaining a somewhat elevated pace of buying because it believes the pullback in ETH prices does not reflect strengthening Ethereum fundamentals.
BitMine is also the second-largest crypto treasury globally after Strategy, which remains the largest corporate Bitcoin holder. The comparison has drawn attention because BitMine is using treasury and financing tools similar to those used by Michael Saylor’s Bitcoin-focused company.
BitMine recently closed the sale of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at a public offering price of $80 per share. The offering generated approximately $273.8 million in net proceeds after underwriting discounts, commissions, and estimated expenses.
The preferred shares are expected to begin trading on the New York Stock Exchange under the ticker BMNP on June 16, 2026. The stock will pay weekly cash dividends, with the first declared dividend set at $0.2639 per preferred share, payable on July 6 to holders of record on June 26.
Lee said the preferred stock offering provides balance sheet diversification for BitMine. He said the company’s projected annualized staking rewards of about $219 million provide recurring cash flow to support dividends tied to the Series A Preferred shares.
BitMine has staked 4,718,677 ETH, representing more than 83% of its ETH holdings. At a reference price of $1,718 per ETH, the staked position is valued at about $8.1 billion.
The company’s staking operations generated a seven-day annualized yield of 2.79%, while projected annual staking revenue is estimated between roughly $219 million and $226 million based on current disclosures.
According to the press release, BitMine has staked 4,718,677 ETH, representing more than 83% of its Ethereum holdings. The staked position is valued at about $8.1 billion at a reference price of $1,718 per ETH, while projected annual staking revenue is estimated at around $219 million to $226 million based on recent company disclosures.
The company also said it meets eligibility criteria for potential Russell 1000 inclusion. The final updated list is expected on June 18, while the reconstituted index is scheduled to take effect on June 26. Inclusion would depend on the formal index update, but BitMine said many active managers track Russell 1000 membership when evaluating U.S. equities.
Concurrently, BitMine was also named to Fortune Magazine’s 2026 Crypto 100 list, according to the company’s update. The listing gives the Ethereum treasury firm another public market reference point as it expands its ETH position and builds its preferred stock financing structure.
Source: X
Bitmine ETH buying comes amid Ethereum’s short-term technical picture, which has strengthened but remains mixed. According to crypto analyst Ali Charts, the ETH price has a potential ascending triangle breakout, which has a possible move toward $1,850 if the pattern confirms.
