BitMine Immersion Technologies (NYSE: BMNR) dramatically expanded its Ethereum treasury, reporting holdings of 5,620,754 ETH as of June 14, 2026—equal to 4.66% of Ethereum’s total supply of 120.7 million tokens. The company’s total crypto, cash, marketable securities, and strategic investments reached $10.4 billion, solidifying its position as the largest public Ethereum treasury and the second-largest crypto treasury globally behind Strategy (formerly MicroStrategy).
The update triggered a modest pre-market bounce in BMNR stock to $17.26 (+7.2%), though intraday trading showed little movement around $16.11. Over the past week, BitMine acquired 76,881 ETH, with Chairman Thomas “Tom” Lee stating the accelerated buying pace reflects a belief that the recent ETH price pullback does not match improving fundamentals.
Staking now forms the core of BitMine’s model: 4,718,677 ETH ($8.1 billion) is staked, generating projected annual rewards of roughly $219–$226 million. The newly launched MAVAN institutional staking platform underpins this, targeting custodians, asset managers, and partners. When fully staked, annual revenue could reach $269 million, providing recurring cash flow to cover dividends on BitMine’s preferred stock.
The company closed a $273.8 million Series A Perpetual Preferred Stock offering (ticker BMNP) on June 10, selling 3.5 million shares at $80 each with a 9.50% rate. A weekly dividend of $0.2639 per share was declared, payable July 6 to holders recorded by June 26. BitMine also holds 204 BTC, $502 million in cash, and minority stakes in Beast Industries ($180 million) and Eightco Holdings ($88 million). With average daily dollar volume of $550 million, BMNR ranks among the most traded U.S. stocks, drawing heavy attention to its Ethereum-centric treasury strategy.
