What to know:
- BitMine’s Ethereum holdings reached 5.62 million ETH, equal to 4.66% of total supply.
- BitMine staked 4.72 million ETH as it claimed the largest Ethereum treasury globally.
- BMNR shares rose 6.92% after BitMine reported $10.4 billion in total treasury holdings.
BitMine Ethereum holdings reached 5,620,754 ETH as of June 14, the company said in a Monday update. The position equals 4.66% of Ethereum’s 120.7 million token supply. The company is now targeting 5% ownership of the total ETH supply through purchases.
This update brought BitMine closer to one of the biggest Ethereum treasury goals among companies. BitMine reported the total crypto, cash, marketable securities, and moonshots worth $10.4 billion.
Also Read: Bitmine ETH Treasury Grows With $213M Ethereum Buy
BitMine Stakes 4.71M ETH as Treasury Strategy Expands
The balance sheet consists of 204 BTC and $502 million worth of cash and marketable securities. In addition, it mentioned a $180 million investment in Beast Industries. Another $88 million was invested in Eightco Holdings.
BitMine Ethereum holdings include 4,718,677 staked ETH. This stake was estimated to be worth around $8.1 billion, with an estimated price of $1,718 per ETH. BitMine claims it owns the largest Ethereum treasury globally.
Furthermore, it announced that it is the second-largest crypto treasury after Strategy. Its chairman, Thomas “Tom” Lee, said that the firm recently purchased 76,881 ETH. Buying was continued owing to improved Ethereum fundamentals.
According to Lee, the recent drop in the price of ETH does not affect the above-mentioned fundamentals. BitMine Ethereum holdings continued increasing despite unfavorable market conditions. Thus, the corporation linked its treasury strategy to the accumulation of Ethereum in the long term.
The move was preceded by an offering of preferred stocks. BitMine concluded the offering of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock on June 10. After the deduction of fees, the net proceeds of the transaction were estimated at $273.8 million.
BitMine Ethereum Holdings Back Preferred Stock Dividend Plan
As per Lee, issuing preferred stocks will provide the company with greater balance sheet diversity. The executive also referred to potential annual staking earnings of $219 million. Recurring cash flows can be used for making dividends on preferred stocks issued.
The preferred shares will be listed on the NYSE with the ticker BMNP starting from June 16. BitMine announced a weekly dividend of $0.2639 per preferred share. This dividend is expected to be paid on July 6.
BMNR share rose following the announcement. According to Yahoo Finance data, the price had reached around $17.23, an increase of roughly 6.92%.
According to the firm, BMNR is one of the most actively traded US stocks. It cited a dollar volume of about $550 million over five days, ending on June 12.
Earlier reports stated that the number of ETH held by BitMine had been increased to 5.42 million tokens. The figure was achieved following the purchase of 26,497 ETH and the staking of about 4.72 million ETH. Later, BitMine Ethereum holdings increased after more purchases linked to large wallet transfers.
Currently, BitMine Ethereum holdings reveal that the firm has ETH accumulation, fund reserves, and preferred stock funding models. Investors will be looking out to see if BitMine can continue increasing its number of ETH per share. They will also determine if staking profits can cover weekly dividend payments.
Also Read: Sen. Lummis Says CLARITY Act Could Resolve Crypto Regulatory Uncertainty in 2026
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