BitMine Immersion Technologies has added 76,881 Ether to its treasury in the past week, taking its total holdings to over 5.62 million Ether as of June 14. That puts BitMine’s treasury at roughly 4.66% of Ethereum’s circulating supply, an unusually large concentration in the hands of a single corporate holder.
The pace here stands out: 76,000 Ethereum is one of BitMine’s larger disclosed buying bursts this year, and it comes just weeks after earlier updates had already placed the company above 5.4 million. BitMine had set a goal of reaching about 5% of Ether’s circulating supply over several years, and on the latest numbers, it is now close to that threshold.
That accumulation also follows the company’s recent preferred stock offering, expected to generate about $273.8 million in net proceeds, with funds earmarked in part for additional Ethereum purchases and for expanding staking and validator infrastructure. The focus now is whether BitMine continues to add to that position as it moves closer to its stated target.