BitMine Adds $139 Million in Ethereum Before Preferred Shares Begin Trading

BitMine Immersion Technologies has added $139 million worth of Ethereum to its treasury ahead of the start of trading for its preferred shares. The move expands what the company describes as a leading Ethereum treasury to more than 5.6 million ETH, valued at greater than $10 billion.

The purchase matters because it further concentrates a large corporate balance sheet around Ethereum at a time when public companies are increasingly watched for how they manage crypto exposure. For readers and market participants, BitMine’s growing ETH position makes the company a notable example of a treasury strategy built around a major digital asset.

The timing also places the Ethereum acquisition just before the preferred share trading debut, linking the company’s capital markets activity with its crypto treasury expansion. The source material does not specify the trading venue, share terms, or the exact start date for the preferred shares.

BitMine is associated with Tom Lee, whose name has become part of the company’s public profile as it builds its Ethereum holdings. The latest addition increases the scale of BitMine’s position but does not, by itself, establish how the company plans to use or manage the ETH over time.

The development underscores the continued role of Ethereum as a balance-sheet asset for crypto-focused firms. Still, the figures reported are company-specific, and the source does not provide a broader market reaction or imply that other firms will follow the same approach.