BitMine Immersion Technologies (BMNR), the largest Ethereum-focused financial company, continued its buying streak after raising new capital through a preferred stock sale.
The firm acquired 76,881 ether (ETH) over the past week, worth about $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 shares in Beast Industries and Eightco Holdings, bringing its total crypto, cash and investment holdings to $10.4 billion.
The latest purchase was less than the previous week’s 126,971 ETH acquisition, its biggest weekly move in 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 buying pace as we believe this decline in ETH prices does not reflect the strengthening of Ethereum’s fundamentals,” said Bitmine Chairman Thomas Lee.
Bitmine’s preferred stock debut
The purchase comes on the heels of raising $274 million by issuing preferred equity that offers a 9.5% annual dividend. The move is similar to financing tools developed by bitcoin tax firm Strategy (MSTR), which has increasingly turned to preferred stocks and other yield-bearing securities to finance crypto purchases.
