Bitmine Immersion Technologies said it acquired 76,881 ETH over the past week, extending its accumulation strategy during a pullback in Ethereum’s price. The company said the latest purchase fits its long-term plan to keep building its crypto position while expanding staking operations.
Based on the company’s disclosure, Bitmine now holds $10.4 billion in crypto, cash, securities, and what it described as “moonshots.” Its total Ethereum position stands at 5.62 million ETH, with 4,718,677 ETH currently staked. Using a price of $1,718 per ETH, the staked portion is valued at about $8.1 billion.
Company says staked ETH position is larger than any other entity’s
Bitmine said more than 83% of its ETH holdings are now staked. It also said its staked ETH balance is larger than that of any other entity globally. Management added that the company is still buying at an elevated pace and tied that activity to what it described as early-stage conditions in the crypto market.
The company reported annualized staking revenue of roughly $226 million. Under full deployment conditions, it projected potential staking rewards of $269 million. Bitmine also said its 7-day staking yield is 2.79% annualized, which it said supports its broader ETH treasury strategy and dividend commitments.
MAVAN rollout expands validator infrastructure
Bitmine confirmed the rollout of MAVAN, its institutional-grade validator network built to support ETH staking operations. The company said the platform is designed to expand into institutional custody and partner services as well.
A portion of Bitmine’s ETH is already operating through MAVAN infrastructure. According to the company, the network is central to scaling staking activity across its ecosystem.
Preferred stock sale brought in about $273.8 million net
Bitmine also completed a registered offering of 3.5 million shares of Series A Preferred Stock at $80 per share. After expenses, the company said net proceeds came to about $273.8 million.
The Series A Preferred Stock carries a 9.50% dividend rate with weekly payouts scheduled. Trading is expected to begin under the ticker BMNP on June 16, 2026. Bitmine also declared a weekly cash dividend of $0.2639 per share for Series A Preferred Stock holders, payable on July 6, 2026.
Separately, the company said it was included in Fortune Magazine’s Fortune 100 Crypto List, which was compiled using data from Inca Digital and industry survey input.