Bitmine Immersion Technologies (BMNR), the largest financial company specializing in Ethereum, continued its buying spree after raising new capital through a preferred stock sale.
The company has 76,881 Ether ($ETH) in the past week, worth approximately $136 million based on $ETHAt the current price, Bitmine’s treasury value rises to 5.62 million $ETH.
The company also held 204 Bitcoin, $502 million in cash and securities, and shares in Beast Industries and Eightco Holdings, bringing its total holdings in cryptocurrencies, cash, and investments to $10.4 billion.
The latest purchases were down from the previous week’s 126,971 purchases. $ETH The acquisition amount represents the company’s largest weekly revenue in 2026. Still, it suggests the company remains focused on accumulating wealth. $ETH This is despite Lee’s comments last month that he would slow the pace of purchases as the company approaches its goal of owning 5% of Ethereum’s supply.
“We are maintaining a slightly higher purchasing pace as we anticipate this rebound.” $ETH “The price does not reflect the strengthening of Ethereum’s fundamentals,” said Bitmine Chairman Thomas Lee.
Bitmine’s preferred stock debut
The acquisition comes after the company raised $274 million through the issuance of preferred stock that offers a 9.5% annual dividend. The move is similar to the financing tool pioneered by Bitcoin treasury firm Strategy (MSTR), which has increasingly relied on preferred stocks and other high-yielding securities to fund its crypto purchases.
