BitMine increased its Ethereum holdings by $135 million, bringing its total holdings to 4.65% of the circulating supply.

According to Crypto Briefing, as reported by Techub News, BitMine Immersion Technologies acquired 76,881 Ethereum (ETH) for $135 million in the week ending June 15, at an average cost of approximately $3,450 per ETH. Following this acquisition, the company's total ETH holdings reached 5.62 million, representing approximately 4.65% of the circulating supply, with a value estimated at $10 billion to $10.4 billion. Furthermore, over 83% of the company's ETH holdings (approximately 4.72 million ETH) are staked, expected to generate $219 million to $226 million in staking rewards annually. BitMine, formerly a Bitcoin mining company, has transformed into a digital asset treasury company, employing a cryptocurrency asset accumulation strategy similar to MicroStrategy, but focusing on Ethereum and generating additional returns through staking. The company funded part of the acquisition through this $274 million Series A preferred stock offering (9.5% annualized dividend, ticker symbol BMNP), demonstrating institutional demand for cryptocurrency asset yield products.