The firm adds 76,881 ETH to its treasury, now totaling 5.62 million ETH amid ongoing accumulation efforts.
Bitmine acquired 76,881 ETH, valued at $136 million, following a $274 million preferred stock offering. The purchase increases its Ethereum treasury to 5.62 million ETH, part of a broader strategy to accumulate assets despite recent market pullbacks.
The company recently closed the stock sale and plans to list shares on the NYSE. Its holdings now include $502 million in cash, 204 bitcoin, and stakes in other firms, bringing total assets to $10.4 billion. Last week’s purchase was smaller than the prior week’s 126,971 ETH haul but signals continued commitment to ETH accumulation.
Chairman Tom Lee noted that Ethereum staking revenue supports dividend payments for preferred equity holders. The firm aims to own 5% of Ethereum’s supply, though recent comments suggested a potential slowdown in purchases.