BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury company, continued its buying streak after raising new 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 cash position 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 total crypto holdings, cash and investments to $10.4 billion.
The latest purchase was less than the previous week’s acquisition of 126,971 ETH, its largest weekly acquisition of 2026. Still, it suggests the company remains committed to accumulating ETH despite Lee’s comments last month about slowing purchases as the company nears its goal of owning 5% of Ethereum’s supply.
“We are maintaining a somewhat elevated buying pace as we believe this pullback in ETH prices does not reflect the strengthening fundamentals of Ethereum,” said Thomas Lee, president of Bitmine.
Bitmine Favorite Stock Debut
The purchase follows the raising of $274 million through the issuance of preferred shares offering an annualized dividend of 9.5%. The move resembles financing tools developed by treasury company Bitcoin Strategy (MSTR), which is increasingly turning to preferred stocks and other yield securities to fund cryptocurrency purchases.
