Tom Lee's Ethereum treasury firm leverages a financing strategy similar to that of Michael Saylor's bitcoin treasury firm, Strategy.
By Krisztian Sandor|Edited by Stephen Alpher Jun 15, 2026, 1:04 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Tom Lee, chairman of Bitmine and cofounder of Fundstrat, at Consensus 2026 in Miami (CoinDesk)SummaryShow- Bitmine has acquired 76,881 ETH last week, valued at approximately $136 million based on current market prices.
- The company recently completed a $274 million preferred stock offering and intends to list the shares on the NYSE.
- Chairman Tom Lee noted that Bitmine's Ethereum staking revenue supports preferred equity dividend payments.
BitMine Immersion Technologies (BMNR), the leading Ethereum treasury firm, continued its acquisition trend following a recent capital raise through a preferred stock offering.
Last week, the firm purchased 76,881 ether (ETH), amounting to about $136 million at the current price, elevating Bitmine's total treasury to 5.62 million ETH.
Alongside this, the company possesses 204 bitcoin, $502 million in cash and marketable securities, and investments in Beast Industries and Eightco Holdings, bringing the total of its crypto, cash, and investments to $10.4 billion.
This latest acquisition was less than the previous week's 126,971 ETH purchase, which marked its largest weekly acquisition of 2026. Nevertheless, it indicates the firm's ongoing commitment to accumulating ETH, despite Lee's prior remarks about reducing purchases as they approached their target of 5% of Ethereum's supply.
“We are sustaining a relatively high buying pace because we believe the recent pullback in ETH prices does not accurately reflect the strengthening fundamentals of Ethereum,” asserted Bitmine Chairman Thomas Lee.
Bitmine's Preferred Equity Introduction
This acquisition follows the successful raising of $274 million through the issuance of preferred equity, which offers a 9.5% annualized dividend. This strategy mirrors financing methods developed by Michael Saylor's bitcoin treasury firm, Strategy, which has increasingly utilized preferred equity and similar yield-bearing securities for funding crypto investments.
Bitmine's 9.50% Series A Perpetual Preferred Stock will start trading on the New York Stock Exchange (NYSE) under the ticker BMNP on Tuesday, with weekly cash dividends to be paid.
Recently, Strategy's preferred equity model faced scrutiny from investors questioning the firm's ability to uphold its growing dividend obligations.
Lee emphasized that Bitmine's Ethereum staking revenue provides a more robust framework for sustaining their dividend commitments.
According to Tom Lee, the preferred stock serves as a "sound balance sheet diversification" strategy for Bitmine. He added, “The projected annualized staking rewards of approximately $219 million will deliver recurring cash flow to support the dividends associated with the Series A Preferred shares.”
Ethereum NewsDigital Asset TreasuryLatest Crypto News- 1Coinbase's Brian Armstrong claims bitcoin may have bottomed at $60,00033 minutes ago
- 2XRP surges 8% above $1.20 in its first significant breakout since the June selloff36 minutes ago
- 3CoinDesk 20 performance update: Bittensor (TAO) rises 31.9%, propelling the index upward 43 minutes ago
- 4Michael Saylor's Strategy purchases another 1,587 bitcoin for $100 million1 hour ago
- 5Markets respond positively to U.S.-Iran breakthrough, although risks in the Middle East and the Fed remain significant2 hours ago
- 6U.S.-Iran agreement boosts equities, depresses oil, while crypto remains cautious2 hours ago
- 7Middle East ceasefire and Fed interest rate decision: A look ahead for crypto this week3 hours ago
- 8Stablecoin associated with Trump utilized for bonus payouts at White House UFC event5 hours ago
- 9Ark Invest acquired over $500 million worth of SpaceX shares during IPO day6 hours ago
- 10Bitcoin traders should pay attention to Tuesday's BOJ rate decision as yen shorts reach a nine-year peak7 hours ago
Exchange Volumes Hit Lowest Point Since September 2024 as RWA Perpetuals Reach New Highs
Exchange Volumes Hit Lowest Point Since September 2024 as RWA Perpetuals Reach New Highs
In May, total exchange volumes decreased by 3.45% to $4.41 trillion, marking the lowest level since September 2024. RWA perpetual futures volumes, however, increased by 10.4%, reaching a new all-time high.
By CoinDesk Research2 hours agoIn May, total exchange volumes decreased by 3.45% to $4.41 trillion, marking the lowest level since September 2024. RWA perpetual futures volumes, however, increased by 10.4%, reaching a new all-time high.
Why it matters:
In May, total exchange volumes decreased by 3.45% to $4.41 trillion, marking the lowest level since September 2024. RWA perpetual futures volumes, however, increased by 10.4%, reaching a new all-time high.
View Full ReportMore From Finance