BitMine Adds $139 Million in Ethereum Ahead of Preferred Share Trading Start on Tuesday

According to Decrypt, BitMine Immersion Technologies added 76,881 ETH (worth $139 million) last week while completing its preferred share offering BMNP, which raised $274 million in proceeds. BMNP shares are set to begin trading on Tuesday with a 9.5% annual dividend rate paid weekly; proceeds will fund additional ETH accumulation, infrastructure buildouts, or share buybacks.

BitMine's total Ethereum holdings now exceed 5.6 million ETH. The company currently stakes more than 4.7 million ETH, generating approximately $219 million in annualized staking rewards. Shares of BMNR gained over 6% on Monday, recently trading around $17.18 as ETH surged nearly 9% in 24 hours to $1,811.