Key facts
- Bitmine Immersion Technologies now holds 5.62 million ETH, valued at approximately $9.66 billion.
- This positions Bitmine as the world's largest corporate ether holder.
- The company raised $274 million in preferred stock to fund its ETH accumulation.
- Over 83% of Bitmine's ETH holdings are currently staked.
- Bitmine also holds 204 bitcoin and other investments.
Bitmine Immersion Technologies has significantly expanded its Ethereum holdings, now possessing 5.62 million ETH tokens valued at approximately $9.66 billion. This substantial accumulation positions the company as the world's largest corporate ether holder. The company recently added 76,881 ETH, worth over $135 million, as it completed a preferred share offering that netted $300 million. Proceeds are designated for further Ethereum acquisition and staking activities. Chairman Tom Lee stated the company is maintaining an elevated pace of buying, believing the current pullback in ETH prices does not reflect strengthening fundamentals and that it is the 'early stages of crypto spring.' Approximately 4.7 million ETH is staked on Bitmine's validator infrastructure, generating recurring staking income. The firm's Series A perpetual preferred stock, trading under the symbol BMNP on the NYSE, carries a 9.50% dividend. In addition to its Ether assets, Bitmine revealed total crypto assets, cash, and strategic investments valued at approximately $10.4 billion, including 204 Bitcoin.