Summary
- Bitmine said it bought an additional 52,203 Ether over the past week, bringing its total holdings to 5,672,956 ETH.
- It said 4,718,677 ETH is currently staked, with an annualized yield of 2.73% and projected annual staking income of about $223 million.
- Bitmine said it raised about $273.8 million by issuing 3.5 million shares of 9.50% Series A perpetual preferred stock, and announced a cash dividend of $0.1847 per share on the securities.
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Bitmine Immersion Technologies, the world’s largest corporate holder of Ether, bought another 52,203 ETH over the past week, lifting its total holdings to 5,672,956 ETH.
PR Newswire reported on June 22 that Bitmine held 5,672,956 ETH as of June 21. That equals 4.7% of Ether’s circulating supply of 120.7 million tokens. At an ETH price of $1,733, the holdings are worth about $9.8 billion.
Bitmine’s crypto, cash, marketable securities and strategic investment assets totaled $10.7 billion. Those assets include 5.67 million ETH, 205 Bitcoin, $601 million in cash and marketable securities, a $180 million stake in Beast Industries and a $104 million stake in Aethir Holdings.
The company has staked 4,718,677 ETH, worth about $8.2 billion at $1,733 per token. That accounts for more than 83% of its total Ether holdings. Its seven-day annualized yield was 2.73%, implying annual staking income of about $223 million. If all of its ETH were staked, annual rewards would rise to about $268 million, the company said.
Chairman Tom Lee said crypto’s best days are still ahead. Rapid advances in tokenization and artificial intelligence will drive exponential growth in demand for blockchain and decentralized cryptocurrencies, he said.
Bitmine bought an additional 52,203 ETH last week and has maintained a steady pace of accumulation throughout the year, Lee said. He added that the market remains in the early stages of a “crypto spring” and that Bitmine expects to reach its goal of controlling 5% of ETH in 2026.
Bitmine also completed an offering of 3.5 million shares of 9.50% Series A perpetual preferred stock. The offering was priced at $80 a share, and net proceeds were about $273.8 million. The preferred shares trade on the New York Stock Exchange under the ticker BMNP.
The company also announced seven weekly cash dividends on the Series A preferred stock. The dividend is $0.1847 a share, with payments scheduled from July 17 through Aug. 28.
Bitmine is the world’s largest Ether treasury company and remains the second-largest digital-asset treasury firm globally behind Strategy.
