BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury company, continued its purchase streak after raising fresh capital through a preferred stock sale.
The firm acquired 76,881 ether ($ETH) over the past week, worth roughly $136 million based on $ETH‘s current price, lifting Bitmine’s treasury to 5.62 million $ETH.
The company also held 204 bitcoin, $502 million in cash and marketable securities and stakes in Beast Industries and Eightco Holdings, bringing total crypto, cash and investment holdings to $10.4 billion.
The latest purchase was smaller than the previous week’s 126,971 $ETH acquisition, its largest 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 firm neared its goal of owning 5% of Ethereum’s supply.
“We are maintaining a somewhat elevated pace of buying as we believe this pullback in $ETH prices does not reflect the strengthening of Ethereum fundamentals,” Bitmine Chairman Thomas Lee said.
Bitmine’s preferred equity debut
The purchase comes on the heels of raising $274 million by issuing preferred equity that offers 9.5% annualized dividend. The move resembles financing tools pioneered by bitcoin treasury firm Strategy (MSTR), which have increasingly turned to preferred equity and other yield-bearing securities to fund crypto purchases.
