Bitmine BMNR Closes in on 5% Ethereum Milestone

Bitmine Immersion Technologies Inc. (NYSE:BMNR) is on track to reach its ambitious goal of owning 5% of all Ethereum. The company, which operates as a blockchain technology firm, has already acquired 5.62 million Ethereum worth approximately $9.7 billion.

This represents 93% of the way toward its target, according to Chairman Tom Lee. He noted that AI systems creating more demand for neutral public blockchains like ETH are driving this growth.

BMNR is expanding its bitcoin mining operations into Ethereum treasury and staking infrastructure. The company has also declared a cash dividend of $0.1056 per share for holders of its 9.5% Series A Preferred Stock, to be paid in cash on July 10, 2026.