Bitmine Immersion Technologies said its total digital and cash holdings reached $10.4 billion as of June 14, 2026, driven largely by a massive Ethereum position that now accounts for 4.66% of the asset’s circulating supply.
The company holds 5,620,754 Ethereum tokens valued at $1,718 each, along with 204 Bitcoin. Its portfolio also includes $180 million in Beast Industries equity, $88 million in Eightco Holdings shares, and $502 million in cash and marketable securities.
Staking strategy generates yield
Bitmine disclosed that about 4,718,677 ETH, worth roughly $8.1 billion, is currently staked. This position is producing a 7-day annualized yield of 2.79%.
The company estimates annualized staking rewards of around $219 million, with potential to reach $269 million when fully deployed through its MAVAN (Made in America Validator Network) and partner infrastructure. MAVAN, originally built to manage Bitmine’s treasury, is now expanding services to external clients.
Preferred stock sale funds dividend model
On June 10, Bitmine completed the sale of 3.5 million shares of its 9.50% Series A Perpetual Preferred Stock at $80 per share, generating $273.8 million in net proceeds.
The shares will begin trading under the symbol BMNP on June 16. The company also approved a third weekly dividend of $0.2639 per share, payable July 6 to holders of record as of June 26.
Chairman Lee said the new security broadens the firm’s funding strategy and ties directly to staking income, which will support dividend distributions.
Ethereum accumulation strategy nears target
Bitmine said it is 93% of the way toward its goal of acquiring 5% of all existing ETH within 11 months. Its current holdings already rank first globally in Ethereum reserves and second in total digital-asset treasuries, behind Strategy Inc., which holds about 845,256 Bitcoin valued at $54 billion.
The concentration reflects one of the largest single-asset corporate positions in the crypto market, even as broader sentiment has weakened. Ethereum has declined about 43% since the start of 2026, while Bitcoin recently rebounded above $65,000 after falling to multi-month lows.
Trading activity and market positioning
Bitmine’s stock ranks 203rd among U.S. public companies by five-day average trading turnover, with about $550 million in daily volume.
The company’s shareholder base includes institutional funds and private backers supporting its Ethereum-focused strategy. At the same time, Bitmine said it continues aligning operations with U.S. securities regulations and upcoming digital-asset legislation.
Broader market context
The company’s rapid accumulation of Ethereum contrasts with recent market trends, where Bitcoin ETFs have recorded extended outflows and broader crypto prices have faced pressure.
Bitmine’s approach centers on turning digital asset holdings into income through staking, rather than relying solely on price appreciation. The structure of its preferred shares, offering steady weekly dividends backed by staking rewards, reflects a hybrid model linking blockchain-based yields with traditional financial instruments.
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