Daily Crypto Briefs 
NEW YORK, June 15, 2026
Bitmine Immersion Technologies added 76,881 ETH over the latest week, lifting its Ethereum treasury to 5,620,754 ETH as the company turns a preferred-stock raise into another test of corporate crypto accumulation.
The update makes Bitmine one of the most concentrated public-company holders of ether. The company said its ETH position represented 4.66% of Ethereum’s 120.7 million token supply, while total crypto, cash and investment holdings reached about $10.4 billion.
Bitmine valued ETH at $1,718 in its June 15 announcement. The same release listed 204 BTC, $502 million of cash and marketable securities, a $180 million investment in Beast Industries and an $88 million investment in Eightco Holdings.
Chairman Thomas “Tom” Lee said the preferred equity gives Bitmine “good balance sheet diversification,” and the company said projected annualized staking rewards are about $219 million. That framing puts staking revenue at the center of whether the company’s weekly preferred dividend model can work through a weak ETH market.
CoinGecko showed ether trading near $1,829 on June 15, up about 10% over 24 hours but still far below its spring levels. Daily Crypto Briefs has tracked that pressure through the Ethereum Foundation unstaking scare and the broader shift toward institutional Ethereum tokenization.
The new purchase followed Bitmine’s upsized preferred-stock sale. The company said on June 5 that it priced 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share, with net proceeds of about $273.8 million.
What remains unclear is how much more ETH Bitmine intends to buy, how the market will price BMNP after it starts trading, and whether staking rewards stay high enough to offset dividend pressure if ETH prices weaken again.
Bitmine ETH Holdings Near 5% Supply
Bitmine’s ETH position is now close to the 5% supply level that has defined the company’s public treasury target. Using the company’s own 120.7 million ETH supply figure, the latest balance equals 4.66% of all ether.
That scale changes how traders read the position. A small treasury company buying ETH is a headline. A public company holding more than 5.6 million ETH is a structural buyer, a potential staking operator and a balance-sheet risk that can influence sentiment around Ethereum concentration.
The company said 4,718,677 ETH, worth about $8.1 billion at its disclosed price, is staked. Staking means locking ETH into validator operations that help secure Ethereum and earn protocol rewards, although rewards can move with network conditions, validator count and operational decisions.
Ethereum
ETHThe balance also makes Bitmine a useful comparison to Bitcoin treasury firms. Strategy remains the obvious reference point after years of BTC accumulation, but Bitmine is applying the treasury-company model to an asset that can generate staking rewards and carries a different liquidity profile.
That comparison is already visible in recent coverage of Strategy’s 4% Bitcoin supply position. Both trades rely on public-market capital, but Bitmine is also making the claim that Ethereum staking can help fund securities issued above the operating company.
Preferred Stock Turns Staking Into Dividend Math
Bitmine’s capital-markets move is the main reason this update is more than another buy-the-dip headline. The company said the preferred stock carries a 9.50% annual cumulative dividend on a $100 stated amount, paid weekly in cash if declared.
The SEC prospectus supplement said proceeds could be used to acquire ETH and other digital assets, expand staking and validator infrastructure through MAVAN, fund working capital, make Ethereum-focused investments and repurchase common stock.
That is a broad mandate. It allows Bitmine to keep buying ETH, but it also layers a fixed dividend expectation onto a volatile asset base.
Bitmine said the Series A preferred shares are approved for NYSE listing and will begin trading under BMNP on June 16. The company also declared an initial cash dividend of $0.316667 per share payable June 22 to holders of record as of June 12, and a second weekly dividend of $0.105556 per share payable June 26 to holders of record as of June 16.
The structure gives investors a yield-bearing security tied to an Ethereum-heavy company rather than direct ETH exposure. For Bitmine, it gives fresh funding without immediately selling common stock at the same scale, although the cost is a dividend obligation that must be managed over time.
Ethereum Treasury Trade Faces Liquidity Test
The market test is whether investors treat Bitmine as an Ethereum proxy, a staking-income vehicle or a leveraged balance-sheet trade. Those are not the same risk.
ETH holders may see the company as a steady buyer while prices are weak. Preferred-stock buyers may care more about dividend coverage, staking reliability and the company’s ability to raise or retain liquidity. Common shareholders may focus on whether new financing supports ETH accumulation without creating obligations that dominate future cash flows.
The broader Ethereum backdrop is still mixed. Tokenization, staking and institutional settlement narratives have strengthened, but ETH has also traded through a sharp drawdown that forced traders to separate long-term adoption stories from short-term liquidity.
Fear & Greed Index
June 15, 2026That makes Bitmine’s next disclosures important. The key numbers are not only the ETH balance, but the amount staked, realized staking rewards, preferred dividend payments, cash balances and any further financing.
Bitmine did not disclose a hard stop for ETH purchases in the June 15 release. The next catalyst is BMNP’s first trading session on June 16, followed by the June 22 initial dividend payment and any new treasury update showing whether the company keeps buying as it moves closer to 5% of Ethereum supply.
Stay up to date
Get the latest crypto insights delivered to your inbox
Primary sources and further reading
| Source | Title |
|---|---|
| | Bitmine: ETH holdings reach 5.62 million tokens |
| | Bitmine: Pricing of upsized Series A preferred stock offering |
| | Bitmine: Initial dividends and NYSE listing for BMNP |
| | SEC: Bitmine 424B5 prospectus supplement |
| | CoinGecko: Ethereum price and market data |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
Related Articles
Frequently Asked Questions
How much ETH does Bitmine hold?
Bitmine said on June 15, 2026 that it held 5,620,754 ETH, equal to about 4.66% of Ethereum's supply based on the company's disclosed supply figure.
How much ETH did Bitmine buy in the latest week?
Bitmine added 76,881 ETH over the latest week, a purchase worth about $132 million at the $1,718 ETH price the company used in its update.
What is BMNP?
BMNP is the NYSE ticker Bitmine said will be used for its 9.50% Series A Perpetual Preferred Stock, which is scheduled to begin trading on June 16, 2026.
Why is Bitmine using preferred stock for Ethereum purchases?
Bitmine said preferred stock gives it balance-sheet diversification, while its projected Ethereum staking rewards can help support cash dividend obligations when dividends are declared.