--- title: "Bitmine Buys $136M ETH, Holdings Surge to 5.62M Ethereum" date: 2026-06-15 author: "Kathleen Kinder" featured_image: "https://coinlaw.io/wp-content/uploads/2026/06/bitmine-buys-136m-eth.jpg" categories: - name: "Cryptocurrency" url: "/crypto.md" tags: - name: "News" url: "/tag/news.md" --- # Bitmine Buys $136M ETH, Holdings Surge to 5.62M Ethereum Bitmine Immersion Technologies has purchased another 76,881 ETH worth about $136 million, pushing its Ethereum holdings to 5.62 million tokens as the company continues its aggressive treasury expansion strategy. ## Key Takeaways - Bitmine acquired 76,881 ETH over the past week, valued at roughly $136 million. - The company’s total Ethereum holdings have climbed to 5.62 million ETH, representing 4.66% of Ethereum’s total supply. - Bitmine recently raised $274 million through a preferred stock offering that will begin trading on the NYSE under the ticker BMNP. - Chairman Tom Lee says Ethereum staking rewards are expected to generate recurring cash flow to support dividend payments for preferred shareholders. ## What Happened? Bitmine Immersion Technologies has expanded its position as the world’s largest Ethereum treasury company after purchasing **76,881 ETH during the past week**. The latest acquisition increased the company’s Ethereum holdings to **5,620,754 ETH**, bringing it closer to its long stated objective of controlling **5% of Ethereum’s circulating supply**. The purchase comes shortly after Bitmine completed a **$274 million preferred equity offering**, providing additional capital to support its crypto accumulation strategy while also broadening its balance sheet structure. > 1/ > 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](https://x.com/coinbase?ref_src=twsrc%5Etfw)) > – 204 Bitcoin (BTC) – $200 million stake in Beast Industries [@MrBeast](https://x.com/MrBeast?ref_src=twsrc%5Etfw) > – $89 million stake in Eightco… > > — Bitmine (NYSE-BMNR) $ETH (@BitMNR) [June 15, 2026](https://x.com/BitMNR/status/2066503209691029834?ref_src=twsrc%5Etfw) ## Bitmine Continues Aggressive Ethereum Accumulation The latest ETH purchase may be smaller than the company’s previous [weekly acquisition of 126,971 ETH](https://coinlaw.io/bitmine-deepens-ethereum-bet-with-123m-eth-acquisition/), but it signals that Bitmine remains committed to growing its Ethereum treasury despite recent market volatility. According to company data, Bitmine now owns **4.66% of Ethereum’s total supply of 120.7 million ETH**. The company says it has already reached approximately **93% of its “Alchemy of 5%” target** in just 11 months. Mr. Lee stated: “ Over the past week, we acquired 76,881 ETH. 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. This is not surprising given we believe we are in the early stages of crypto spring. Bitmine is expected to reach the ‘alchemy of 5%’ sometime in 2026. Thomas “Tom” LeeChairman – Bitmine The company’s total holdings extend beyond Ethereum. As of June 14, Bitmine reported ownership of **204 Bitcoin**, **$502 million in cash and marketable securities**, a **$180 million stake in Beast Industries**, and an **$88 million stake in [Eightco Holdings](https://coinlaw.io/eightco-125m-funding-bitmine-ark-payward/)**. Combined, Bitmine’s crypto assets, cash reserves, marketable securities, and strategic investments now total approximately **$10.4 billion**. ## Preferred Stock Offering Fuels Expansion Bitmine’s latest buying activity follows the successful completion of its **3.5 million share Series A Perpetual Preferred Stock offering**. The offering raised approximately **$273.8 million in net proceeds** after expenses. The preferred shares carry a **9.50% annual dividend rate** and are expected to begin trading on the New York Stock Exchange under the ticker **BMNP** on June 16, 2026. Unlike some crypto treasury firms that rely heavily on asset appreciation to support investor returns, Bitmine believes its growing [Ethereum staking business](https://coinlaw.io/eth-staking-statistics/) can generate recurring revenue to fund dividend commitments. Thomas “Tom” Lee stated: “ The Series A Preferred Stock offering is good balance sheet diversification for Bitmine. The Company’s current projected annualized staking rewards of approximately $219 million provide recurring cash flow to support the dividends related to the Series A Preferred shares. Thomas “Tom” LeeChairman – Bitmine The company also announced a weekly cash dividend of **$0.2639 per preferred share**, scheduled to be paid on July 6, 2026. ## Staking Operations Become a Key Revenue Driver A major component of Bitmine’s strategy is its expanding Ethereum staking operation. The company disclosed that **4,718,677 ETH** are currently staked, representing more than **83% of its total Ethereum holdings**. At current valuations, those staked assets are worth approximately **$8.1 billion**. Bitmine recently launched **MAVAN**, short for [Made in America VAlidator Networ](https://coinlaw.io/bitmine-mavan-ethereum-staking-platform-launch/)k, an institutional focused Ethereum staking platform designed to serve both the company’s treasury operations and external institutional clients. Tom Lee said: “ Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $269 million on an annualized basis (using 2.79% 7-day BMNR yield). Thomas “Tom” LeeChairman – Bitmine The company added that annualized staking revenues are currently projected at roughly **$226 million**. ## Fortune Recognition and Institutional Backing Bitmine’s rapid growth has also attracted broader industry recognition. On June 11, the company was named to the **Fortune Crypto 100 List for 2026**, a ranking of influential blockchain companies. The company also highlighted support from several major investors, including **Cathie Wood’s ARK**, **Founders Fund**, **Pantera**, **Kraken**, **Digital Currency Group**, **Galaxy Digital**, **Bill Miller III**, and Tom Lee himself. According to Bitmine, its stock remains among the most actively traded equities in the United States, averaging approximately **$550 million in daily trading volume** over a five day period. ## CoinLaw’s Takeaway In my experience, Bitmine is quickly becoming the clearest example of an Ethereum-focused treasury strategy at institutional scale. While many companies have followed the Bitcoin treasury model, Bitmine is attempting something different by combining large scale ETH accumulation with staking income that can generate real cash flow. I found the staking component particularly important because it gives the company a potential source of recurring revenue rather than relying solely on **Ethereum price appreciation**. If Ethereum adoption continues to grow through tokenization and blockchain-based financial infrastructure, Bitmine’s position could become even more influential in the coming years. Definition of Staking. Link to full glossary entry follows the description.**Staking**Staking is the process of locking cryptocurrency in a proof-of-stake network to help validate transactions and earn rewards, replacing energy-intensive mining. [Read more](https://coinlaw.io/glossary/staking/)