BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury company, continued its buying streak after raising fresh capital through a preferred stock sale.
The company acquired 76,881 ether (ETH) over the past week, worth approximately $136 million based on the current ETH price, bringing Bitmine’s treasury to 5.62 million ETH.
The company also held 204 bitcoins, $502 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings, bringing its total cryptocurrency holdings, cash, and investments to $10.4 billion.
The latest purchase was down from the previous week’s acquisition of 126,971 ETH, its biggest weekly haul of 2026. Still, it suggests the company remains committed to accumulating ETH despite Lee’s comments last month about slowing purchases as the company neared its goal of owning 5% of Ethereum supply.
“We are maintaining a somewhat elevated buying pace as we believe this pullback in ETH prices does not reflect strengthening Ethereum fundamentals,” said Bitmine President Thomas Lee.
Bitmine Preferred Stock Debut
The purchase comes on the heels of raising $274 million through the issuance of preferred stock offering a 9.5% annualized dividend. The move resembles financing tools pioneered by bitcoin treasury firm Strategy (MSTR), which has increasingly turned to preferred stocks and other yielding securities to fund cryptocurrency purchases.
