Every Zipp story tagged #BMNR, newest first.
The buy is small relative to the treasury, but the 85% staking rate and a $15.62-average buyback show the playbook is now yield plus capital return, not just accumulation.
The largest Ethereum treasury added just 7,430 ETH in a week, a rounding error next to its May pace, and the shift reads as a signal that the cheapest dollars on its balance sheet now sit in its own…
The ETH-treasury model turned $45.7M of staking revenue into an $83.6M quarterly loss, with 149% share dilution and an $8.2B unrealized gap weighing on existing BMNR holders.
At 4.8% of Ethereum's circulating supply and 95% of the way to its 'Alchemy of 5%' target in just 12 months, Bitmine is now the largest single corporate holder of ETH by a wide margin.
The 9.50% coupon signals how aggressively Bitmine is leaning into the Ethereum-treasury thesis — preferred stock gives it fresh ammo for ETH buys without a common-stock tap.
Eleven months in, Bitmine is 90% of the way to its "Alchemy of 5%" target — and the pace of accumulation has not slowed.
Index-eligible status means passive funds and active managers restricted to Russell 1000 names will be forced buyers of BMNR at reconstitution, a structural bid layer the stock lacked a week ago.
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