BitMine | Crypto

Ethereum Tower can keep its 2% interest and may elect continuing fees or a formula-based payment after a covered termination. The post BitMine gets 98% of revenue from staking as a decade-long contract complicates an early exit appeared first on CryptoSlate.

BitMine would now need to spend just $482 million more to complete its goal of owning 5% of Ethereum's total supply, though management is signaling that the final purchases will come more slowly. On July 20, the company revealed that it held 5,777,468 ETH after adding 7,430 tokens during the previous week. The latest purchase […] The post BitMine is now $484 million away from completing its 5% Ethereum target appeared first on CryptoSlate.

The Ethereum treasury firm added 7,430 ETH over the past week, bringing its holdings to nearly 5% of the network’s circulating supply. Top Ethereum treasury company Bitmine said Monday its Ether holdings had reached 5.78 million tokens, representing about 4.8% of Ethereum’s circulating supply, as the company closed in on its stated goal of accumulating 5% of all ETH. According to Monday’s announcement, the company added 7,430 ETH (ETH) over the past week. About 4.9 million ETH, or roughly 85% of its treasury, is currently staked through its validator network and partners. Bitmine valued its crypto, cash and marketable securities at $11.5 billion, including 207 Bitcoin and $385 million in cash and securities. The company also repurchased 5.5 million shares during the week under its previously authorized $4 billion buyback program. Read more

Bitmine plans to slow its Ethereum purchases as its holdings approach 5% of the cryptocurrency’s supply, ending a year of rapid accumulation that made the company the network’s largest corporate token holder. In his July Chairman message, Thomas Lee said Bitmine has amassed 5.7 million ETH, equal to about 4.8% of supply, but will approach […] The post Bitmine nears its Ethereum buying limit – Now it needs demand to make the bet pay off appeared first on CryptoSlate.

BitMine's push to turn one of the world's largest corporate Ethereum holdings into a source of recurring income generated nearly $46 million from staking last quarter. Yet a $92.1 million options loss overwhelmed those gains, while rising treasury costs and aggressive share issuance further weakened the economics for existing shareholders. For the fiscal third quarter […] The post BitMine made $46 million staking Ethereum then lost twice that betting on it appeared first on CryptoSlate.

Ethereum staking generated 98% of Bitmine’s revenue last quarter as the company’s pivot from Bitcoin mining gained momentum following its March validator launch. Bitmine Immersion Technologies recorded $45.7 million in revenue from Ether staking and validation last quarter, following the launch of its institutional-grade Ethereum staking platform in March.  Staking revenue accounted for 98% of total revenue for the three months ended May 31, far outpacing the $624,000 from self-mining Bitcoin (BTC) and the $168,000 from consulting services, according to Bitmine’s latest 10-Q filing. On Monday, Bitmine said it had staked 85% of its ETH holdings, equating to around 4.9 million Ether (ETH).  “Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $284 million on an annualized basis,” said Tom Lee, chairman of Bitmine.  Read more

ETH charts a path toward $2,000 as TradFi adoption, DAT buying and a long-awaited network upgrade boost investor interest. Key takeaways: Ether (ETH) price rallied 15% in five days, distancing itself from the $1,500 low hit on June 26. Part of the improvement in investor sentiment can be pinned to the final tests on Ethereum’s Glamsterdam upgrade, targeted for later in 2026. Moreover, BitMine Immersion Technologies' continued Ether accumulation helped strengthen the support level. Will $2,000 come next? Read more

Bitmine's big buy contrasts with crypto treasury peer Strategy, which reported selling millions of dollars worth of its Bitcoin holdings on Monday. Bitmine Immersion Technologies, holding one of the largest Ether (ETH) stockpiles as part of its treasury strategy, said Monday it added of $74 million worth of the second-biggest crypto by market cap, in contrast with Strategy, a major Bitcoin (BTC) holder, which offloaded coins to fund its dividend payments. Bitmine said that it held 5,742,237 ETH as of Sunday, marking an increase of 42,197 Ether since it reported on its holdings last week. The ETH holdings were reported when the token was valued at about $1,759, making its most recent buys worth about $74 million. The price of ETH has since increased to $1,792 apiece at the time of publication. Bitmine chair Tom Lee said optimism about the passage of the Digital Asset Market Clarity (CLARITY) Act in the US was an “important milestone” that could allow “smart contract platforms like ethereum to benefit” among th...

Ethereum price is trading near $1,650, remaining below its major moving averages and preserving a bearish prediction. But, a major.. The post Ethereum Price Prediction: Lubin, Bitmine, and Sharplink Launch Independent Non-Profit Institution to Bring Institutional Wealth Onchain appeared first on Cryptonews.

Bitmine purchased about $43 million worth of Ether last week as it entered the Russell 1000 Index, bringing it closer to its goal of owning 5% of ETH’s supply. Ether treasury company Bitmine Immersion Technologies added more than 27,000 Ether to its holdings last week as the firm joined the Russell index tracking the largest 1,000 US companies. Bitmine said Monday that after its latest $43 million purchase, it held just over 5.7 million Ether (ETH) bought at an average price of $1,569 per token and held 4.7% of the ETH supply of 120.7 million tokens, closer to its goal of owning 5% of Ether’s supply. Bitmine chairman Tom Lee said the past week “was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins.”  Read more

Bitmine made its smallest purchase since early May as Lee pointed to investors cutting losses before the start of the second half of the year.

Sharplink says the new nonprofit, Ethlabs, “exists to ensure the network is ready to absorb” the demand that institutions will place on it with stablecoins, tokenization and AI. Former Ethereum Foundation contributors and Ether treasury firms Bitmine and Sharplink have backed a new research and development nonprofit that aims to make Ethereum ready for institutional use. Sharplink said on Monday that the organization, Ethlabs, was formed to “ready Ethereum for the next phase of institutional adoption,” with the company pitching in with Bitmine, Ethereum co-founder Joe Lubin and other Ethereum contributors on its funding effort. “As stablecoins, tokenized real-world assets, funds and autonomous AI commerce move on-chain, they are converging on Ethereum as the neutral, credibly permissionless settlement layer for the global economy,” Sharplink said. “Ethlabs exists to ensure the network is ready to absorb that demand at scale.” Read more

BitMine continued buying Ether through the market downturn, growing its stake to nearly 5% of the circulating supply while generating staking yield amid mounting ecosystem challenges. BitMine Immersion Technologies continued to expand its Ether holdings last week, acquiring more of the second-biggest digital asset despite a prolonged market downturn as its large staking operation continues to generate yield. On Monday, the crypto treasury company reported that it acquired 76,881 Ether (ETH) over the past week, potentially reducing its average cost basis as ETH briefly plunged below $1,600 during the period. The company has been steadily acquiring Ether during the bear market, regardless of price action. BitMine now holds 5,620,754 ETH acquired at an average price of $1,718. Read more

BitMine continued buying Ether through the market downturn, growing its stake to nearly 5% of the circulating supply while generating staking yield amid mounting ecosystem challenges. BitMine Immersion Technologies continued to expand its Ether holdings last week, acquiring more of the second-biggest digital asset despite a prolonged market downturn as its large staking operation continued to generate yield. On Monday, the crypto treasury company reported that it acquired 76,881 Ether (ETH) over the past week, potentially reducing its average cost basis as ETH briefly plunged below $1,600 during the period. The company has been steadily acquiring Ether during the bear market, regardless of price action. BitMine now holds 5,620,754 ETH acquired at an average price of $1,718. Read more

The company added nearly 127,000 ETH over the past week and now has more than 4.7 million Ether staked through its validator infrastructure. Bitmine Immersion Technologies increased its Ether holdings to 5.54 million ETH after acquiring nearly 127,000 tokens over the past week, bringing its treasury to 4.59% of Ethereum's total supply. The company said it has now reached 92% of its stated goal of acquiring 5% of Ethereum's total supply, a strategy it calls the “Alchemy of 5%.” It added that 4.72 million ETH (ETH), or about 85% of its holdings, are currently staked through validator infrastructure, worth roughly $7.7 billion at current prices. Bitmine projected $230 million in annualized staking revenue from its current staked ETH position, with rewards potentially rising to $270 million if its holdings are fully staked through MAVAN and other staking partners. Read more

Find out how BitMine's new offering in Ethereum News signals a shift in mining strategies towards ETH staking yields. The post Ethereum News Today: BitMine to Raise $300M in Preferred Stock to Buy ETH appeared first on Cryptonews.

Thomas Lee's BitMine is turning to the preferred-stock market to raise fresh capital for its Ethereum strategy, offering investors a 9.5% annual payout. On June 3, the company revealed plans to sell 3 million shares of 9.50% Series A perpetual preferred stock with a $100 stated amount, creating a potential $300 million raise. The shares […] The post Ethereum treasury giant offers 9.5% payout as BitMine paper losses top $8.5 billion appeared first on CryptoSlate.

The move comes as Ether prices slumped to a 14-month low below $1,750 on Thursday. Ethereum treasury company Bitmine Immersion Technologies is launching a $300 million perpetual preferred stock offering, borrowing a page from Strategy’s financing playbook.  Bitmine told the SEC on Wednesday that it intends to offer 3 million of its 9.5% Series A perpetual preferred stock at $100 per share, which will trade under the symbol BMNP within 30 days of issuance.  Preferred shares are a hybrid of stocks and bonds. Investors are not directly betting on the company’s growth but lending it money in exchange for regular payments. For every $100 share, Bitmine will pay dividends on a weekly basis, amounting to $9.50 per year.  Read more

Bitmine's Tom Lee says the firm could be considered for the Russell 1000, and its stock may get a boost from active and passive fund managers. Ether treasury company Bitmine Immersion Technologies has been included in a preliminary list for potential inclusion in the Russell 3000 index, a move that chairman Tom Lee hinted could provide tailwinds for the company’s stock. FTSE Russell, a subsidiary of the London Stock Exchange Group, published a preliminary index inclusion list for the Russell 3000 on Friday, its index tracking the 3,000 largest companies in the US.  Lee said in an X post Saturday that Bitmine could be included in the Russell 1000, an index tracking the largest 1,000 US companies, due to the index’s minimum market capitalization threshold of $5.7 billion. Bitmine’s market cap was $10.15 billion as of market close on Friday. Read more

BitMine bought an additional 60,000 ETH worth about $126 million as Ethereum traded near $2,000, extending one of the largest corporate accumulation strategies tied to the second-largest digital asset. The purchase came just as the firm was named to the preliminary list for the Russell 1000 Index, positioning the crypto holder to capture a slice […] The post BitMine’s $126M Ethereum buy sets up a Russell index test tied to $12.2T in assets appeared first on CryptoSlate.