Summary
- Bitmine said it bought an additional 52,203 Ether (ETH) over the past week, increasing its total holdings to 5,672,956 ETH.
- Bitmine said it has staked 4,718,677 ETH and projects an annualized yield of 2.73%% and annual staking income of about $223 million.
- Bitmine said it completed an offering of 3.5 million shares of 9.50%% Series A perpetual preferred stock, listed them on the New York Stock Exchange under 'BMNP,' and declared a $0.1847-per-share dividend.
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Bitmine Immersion Technologies, the world’s largest corporate holder of Ether, bought 52,203 more ETH over the past week, raising 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 Ether price of $1,733, the holdings were worth about $9.8 billion.
Bitmine said its 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 EthCo 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 holdings. The annualized seven-day staking yield was 2.73%, and projected annual staking income is about $223 million. If all of its Ether were staked, annual rewards would total 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 exponentially increase demand for blockchain and decentralized cryptocurrencies, he added.
Lee said Bitmine bought 52,203 ETH last week and has maintained a steady pace of accumulation throughout the year. He added that the market remains in the early stages of a “crypto spring” and that Bitmine aims to reach its goal of securing 5% of total ETH supply in 2026.
Bitmine also recently 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 totaled 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 for 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 company after Strategy.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
