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Bitmine adds another $136 million of ether after raising $274 million in preferred stock sale
Key takeaways
- 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.
- "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.
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.
Article preview — originally published by CoinDesk. Full story at the source.
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