Bitmine now holds 5.70 million ETH, accounting for about 4.7% of ethereum’s total supply, bringing it close to its stated goal of holding 5%. The company also joined the Russell 1000 and began trading its preferred stock on the NYSE under BMNP.
Key Takeaways:
Bitmine raised its ETH holdings to 5.70M, reaching 4.7% of ethereum’s total supply.Bitmine joined the Russell 1000 and listed BMNP, expanding institutional market access.Tom Lee targets 5% of ETH supply in 2026 as staking revenue continues to grow.Bitmine Immersion Technologies has pushed its ether holdings to 5.70 million tokens, bringing the company within striking distance of its goal to own 5% of the ethereum supply.
Staking Operation Becomes Core Revenue Driver Russell 1000 Inclusion Broadens Equity BaseThe company also recently completed an offering of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share. Net proceeds were about $273.8 million after fees and expenses. The preferred shares now trade on the NYSE under the ticker BMNP, with dividends scheduled to be paid weekly, subject to the terms of the security.
Bitmine remains focused on the longer-term horizon and continues to manage the company to be positively positioned for these exponential drivers.
