Bitmine has bought an additional 76,882 ether over the past week, raising its share of total supply held to 4.66 percent.

On June 16 (local time), blockchain outlet CoinPost reported that Bitmine held 5,620,754 ether as of June 14, about 93 percent of the company’s stated goal of securing 5 percent.

Bitmine’s ether holdings rose to 5,620,754 on June 14 from 5,543,872 on June 7. As of June 14, the holdings were valued at about $9.3 billion. Total assets, including cryptocurrencies, cash, marketable securities and investment assets, were tallied at $10.4 billion.

The company’s ether accounts for 4.66 percent of the total supply of 120.7 million. Bitmine has set a target of securing 5 percent, and the latest purchases bring it closer to that goal.

Its staking scale has also grown. Bitmine has 4,718,677 ether locked in staking. The company expects annual staking rewards of about $219 million. Bitmine chairman Tom Lee (톰 리) said the annual staking rewards of about $219 million would fund payments of preferred stock dividends and could generate ongoing cash flow.

Bitmine’s strategy focuses on using ether as an income-generating treasury asset rather than simply holding it. The structure is to secure a large amount of ether, deploy it into staking to generate recurring reward income, and link that to dividend funding and additional operating capital.

This is a different approach from corporate treasury strategies centered on bitcoin. While bitcoin-holding strategies focus on expanding asset value through price gains, Bitmine chose a structure aimed at securing recurring cash flow from its holdings by using ether’s staking function. The strategy could be affected by ether price volatility and changes in staking reward rates. If ether prices fall sharply or reward rates drop, it could weigh on dividend funding and asset management plans.

It also raised funds. Bitmine completed procedures on June 10 to issue 3.5 million shares of 9.50 percent Series A perpetual preferred stock at $80 per share. Net proceeds, excluding underwriting fees and other costs, were about $273.8 million. The preferred stock trades under the ticker BMNP.

BMNP is scheduled to begin trading on the New York Stock Exchange from June 16, and the company plans to pay dividends weekly. Bitmine has presented a structure that combines funds raised through the preferred stock offering with its staking income model to finance both expanded ether holdings and shareholder returns.

Against this backdrop, market attention is shifting to when Bitmine will meet its 5 percent holding target. With its current holdings already at 93 percent of the goal and cash flow secured from a large staking position, further purchases and its asset management approach are expected to remain in focus.