Key Takeaways:
Bitmine grew holdings to 5.62M ETH, reaching 93% of Tom Lee’s 5% supply target.Bitmine’s assets hit $10.4B, reinforcing its position as the largest ETH treasury.BMNP raised $273.8M on June 10, supporting staking growth and weekly dividends.Bitmine Immersion Technologies said its ether holdings have climbed to 5.62 million tokens, bringing the company closer to its goal of owning 5% of Ethereum’s total supply.
The company’s ether position represents 4.66% of Ethereum’s 120.7 million token supply. That puts Bitmine 93% of the way toward what Chairman Tom Lee calls the company’s “Alchemy of 5%” target, reached in just 11 months.
Preferred Stock Adds Balance-Sheet FlexibilityBitmine also closed its sale of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock on June 10. The shares were sold at $80 each, generating about $273.8 million in net proceeds after fees and expenses.
The preferred stock is expected to begin trading on the New York Stock Exchange under the ticker BMNP on June 16. Dividends are scheduled to be paid weekly, subject to the terms of the offering.
MAVAN (Made in America Validator Network) was built first for Bitmine’s own treasury. The company plans to expand it for institutional investors, custodians, and ecosystem partners.
