Bitmine's ETH Acquisition Approaches 5% of Total Supply
Bitmine Immersion Technologies (BMNR), a leading firm in Ethereum treasury management, has recently acquired $92 million worth of ether (ETH), bringing its total holdings to 5.67 million ETH, valued at nearly $10 billion. This acquisition, which involved 52,203 ETH, reflects Bitmine's strategy to secure 5% of the total Ethereum supply, now at 4.7% of the circulating supply.
Despite a reduction in purchasing activity as it nears its goal, Bitmine remains committed to acquiring more ETH throughout 2026. Chairman Thomas "Tom" Lee stated, "We are committed to a steady accumulation throughout 2026." The firm currently has liquid assets of $601 million and is enhancing its financing options by introducing preferred shares that pay dividends.
Recently, Bitmine raised approximately $274 million through the issuance of preferred shares, which are listed on the New York Stock Exchange. These shares provide weekly cash dividends, supported by the consistent cash flow generated from its staking operations. Bitmine has staked 4.72 million ETH, accounting for over 83% of its total holdings, and anticipates annualized staking revenues of around $223 million.
