BitMine Drops $135M on ETH, Then Asks NYSE to Hold Its BMNP 🍷

Bitmine Immersion Technologies added 76,881 Ether valued at $135.6 million to its corporate treasury last week, according to a Monday disclosure. The acquisition lifts the firm's cumulative holdings to 5,620,754 ETH at an average price of $1,718, representing roughly 4.66% of all Ether in circulation and putting the company within striking distance of its stated target of acquiring 5% of the total ETH supply.

"Over the past week, we acquired 76,881 ETH," Chairman Tom Lee said in a statement, addressing the recent market downturn. "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."

Beyond its Ether position, Bitmine reported total crypto and strategic holdings of $10.4 billion, including 204 Bitcoin ($BTC), a $200 million stake in Beast Industries linked to MrBeast, and an $89 million position in Eightco, per the company's holdings update for June 15, 2026.

The buying push coincides with the planned NYSE debut of the company's preferred stock under the ticker "BMNP" on Tuesday, June 16. Bitmine is the Ethereum-focused firm chaired by Fundstrat's Tom Lee, and the listing adds a new capital-markets avenue alongside its continued onchain accumulation.

The disclosure arrives as Ether trades well below the average cost basis Bitmine has reported for its treasury, a metric investors typically track to gauge unrealized performance. Neither the company nor its chairman indicated any change to the long-stated 5% supply target beyond the latest weekly tally.