Bitmine Buys 52,203 ETH, Treasury Rises to $10.7 Billion

Bitmine Immersion Technologies said it purchased 52,203 ETH over the past week, lifting its Ethereum holdings to 5,672,956 ETH. Based on an ETH price of $1,733, the company valued the position at about $9.8 billion. The company's combined holdings of cryptocurrency, cash, securities and equity investments reached $10.7 billion as of June 21, 2026, according to an update accompanied by treasury figures dated 3:00 p.m. ET. Chairman Tom Lee said the move aligns with Bitmine's long-term crypto accumulation strategy. Bitmine reported that its Ethereum position now equals roughly 4.7% of total ETH supply, which it estimated at 120.7 million coins. The firm also disclosed ownership of 205 Bitcoin, a $180 million stake in Beast Industries, and a $104 million stake in Eightco Holdings. Cash and marketable securities totaled $601 million as of the same timestamp. On staking, Bitmine said it has 4,718,677 ETH staked, valued at approximately $8.2 billion, representing more than 83% of its ETH holdings. Lee said the staking program delivered a 2.73% seven-day yield; at that pace, Bitmine projected annualized staking revenue of about $223 million. He added that annualized staking rewards could reach $268 million once all eligible ETH is fully staked through MAVAN and its staking partners. Bitmine recently launched MAVAN, short for Made in American VAlidator Network, initially developed to support the company's Ethereum treasury operations. The disclosure follows a capital raise earlier this month in which Bitmine completed an offering of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock. Net proceeds were approximately $273.8 million after expenses and underwriting costs. The preferred shares trade on the NYSE under the ticker BMNP, with dividends set for weekly payments. Bitmine said its crypto treasury is the largest Ethereum treasury globally and the second-largest digital asset treasury overall, behind Strategy Inc.'s Bitcoin holdings.