Bitmine Scoops Up $135M Ethereum Ahead BMNP Preferred Stock Debut On NYSE
Highlights
- Tom Lee's Bitmine has added another $135 million in Ethereum to its treasury.
- With this, the company is nearing its goal of holding 5% of total ETH supply.
- Meanwhile, Bitmine's preferred stock offering is set to start trading on June 16 under the "BMNP" ticker.
Bitmine Immersion Technologies, Inc. has ramped up buying Ethereum with a whopping $135 million purchase last week. The move comes just ahead of its preferred stock listing on the New York Stock Exchange on Tuesday, June 16.
Tom Lee’s Bitmine Continues Buying Ethereum
According to a Monday disclosure, the company made a $135.6 million addition to its Ethereum treasury by buying 76,881 ETH. The new acquisition brings the firm’s total holdings to 5,620,754 ETH at average Ethereum price of $1,718.
The stash represents approximately 4.66% of all Ethereum in circulation. It brings Bitmine very close to its target of acquiring 5% of the Ether supply.
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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)
– 204 Bitcoin (BTC) – $200 million stake in Beast Industries @MrBeast
– $89 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 15, 2026
“Over the past week, we acquired 76,881 ETH,” said Chairman Tom Lee in a statement. He also remarked on the recent market volatility. Lee added, “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.”
Lee also mentioned the overall market scenario as favorable for accumulation. He stated that it’s “the early stages of crypto spring.” It marks a deviation from Lee’s recent hint at pausing ETH buying.
The firm’s approach to Ethereum is also progressing more towards staking and yield generation amid aggressive Ether acquisitions. Approximately $8.1 billion of ETH was staked on Bitmine’s validator infrastructure, comprising 4,718,677 ETH. The company has also reported recurring staking income via this mechanism.
Now, the company says its staking activities and infrastructure are generating more than $200 million in annualized rewards. It will go toward supporting its balance sheet expansion and related dividend payments in connection with its upcoming preferred shares.
The BMNP Preferred Stock Launch
Bitmine has also closed a $300 million initial offering in its Series A perpetual preferred stock sale. The stock will be available for trading from Tuesday June 16 on the NYSE under the symbol BMNP. Moreover, it will carry a 9.50% dividend. The proceeds of the issuance could be used for further investments in Ethereum acquisition and staking activities.
In addition to Ether assets, Bitmine revealed total crypto assets held, cash and strategic investments valued at approximately $10.4 billion. It holds a relatively small portion of Bitcoin in portfolio, which is worth around $13.5 million at current prices.
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