NEW YORK, June 24, 2026, 15:04 EDT
- Bitmine slipped roughly 7.3% to $14.02 in afternoon trading. Ether was also weaker, down 5.1% at $1,571.40.
- Bitmine Immersion Technologies’ June 22 update said crypto, cash, marketable securities, and “moonshot” investments totaled $10.7 billion, with ETH holdings at 5,672,956 tokens. PR Newswire
- Bitmine said its BMNP preferred stock is now trading on the NYSE following a net offering of $273.8 million.
Bitmine Immersion Technologies shares slid Wednesday. Ether prices also lost ground. This came two days after Bitmine disclosed one of the largest crypto treasury holdings among public companies.
U.S. stocks traded during normal NYSE hours, open from 9:30 a.m. to 4 p.m. ET. For 2026, the next holidays near Wednesday are Juneteenth on June 19 and the observed Independence Day on July 3, according to the exchange calendar.
BMNR slipped 7.3% to $14.02. Volume topped 32 million shares. Ether traded at $1,571.40, off 5.1% on the day.
Bitmine reported holdings as of June 21 of 5,672,956 ETH, 205 bitcoin, $601 million in cash and marketable securities, and equity in Beast Industries and Eightco Holdings, which it calls “moonshots.” The company said its ETH stash equals 4.7% of the entire 120.7 million ETH supply. PR Newswire
Based on ether’s price Wednesday, Bitmine’s stash of ETH is worth around $8.9 billion, by a Reuters-style calculation of its tokens. Back on June 21, Bitmine put the ETH figure at about $9.8 billion, using $1,733 for each token in its snapshot.
Chairman Thomas “Tom” Lee said in the update that “the best years for crypto remain ahead.” Lee linked his outlook to tokenization—moving assets like securities and real estate onto blockchain tech—and to growth in artificial intelligence. PR Newswire
Bitmine said 4,718,677 ETH was staked on its MAVAN, or Made in America VAlidator Network. Staking involves locking up tokens to support a proof-of-stake blockchain and earn rewards. Lee put annualized staking revenue at a projected $223 million, using a seven-day yield of 2.73%.
The company said it closed a sale of 3.5 million shares of 9.50% Series A perpetual preferred stock at $80 a share on June 10, netting about $273.8 million after expenses. This is senior equity with no maturity date. Bitmine said BMNP dividends are set weekly, as outlined in the terms.
Bitmine is grouped with other public crypto treasury firms in the model. Strategy’s website, as of June 22, shows 847,363 bitcoin. CoinDesk reported Bitmine’s preferred-share sale copied Strategy’s funding method.
SharpLink said June 22 it would raise $75 million in a registered direct deal, with the money marked for working capital, ETH buys and potential buybacks. Shares dropped about 5.8% Wednesday afternoon. The company is another treasury holder on Ethereum.
But the trade goes both ways. Bitmine’s latest annual filing said its ETH strategy relies on capital-market premiums in what it called a cyclical market. If ETH stays down for long, the company could see the carrying value of its digital assets fall and might have a tougher time raising capital. The filing also flagged risks around custody, regulation and Ethereum-specific tech.
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