Bitmine Immersion Technologies ( NYSE : BMNR ) announced that its ETH holdings have exceeded 6 million coins, with the company's total assets including cryptocurrencies, cash, tradable securities, and high-risk high-potential investments reaching $17.2 billion.
The company stated that Bitmine currently holds 4.9% of the total supply of ETH. According to them, in just 15 months, the company has achieved 98% of their "5% alchemy" goal.
According to Bitmine, as of now, ETH has been the best-performing macro asset in the third quarter of 2026, outperforming the S&P 500 index by 6,728 basis points. The company also stated that Tom Lee will deliver a keynote speech at the Korea Blockchain Week (Korea Blockchain Week) on September 30, 2026. Bitmine was included in the large-cap index Russell 1000 on June 26, 2026, and its Series A preferred stocks are listed on the New York Stock Exchange under the code BMNP.
The company stated that Bitmine currently has 5,067,309 ETH in a pledged state. Calculated at $2,698 per ETH, this amounts to a value of $13.7 billion. MAVAN ( Made in America VAlidator Network ) is an Ethereum staking platform launched by Bitmine for BMNR and institutional investors. Bitmine also holds shares in Eightco ( NASDAQ : ORBS ) worth $115 million. The company mentioned that this allows investors to indirectly gain exposure to OpenAI.
Bitmine indicates that its holdings of cryptocurrencies, cash, and tradable securities, along with the " Moonshots " investments, total $17.2 billion, which includes 6 million ETH, $714 million in cash and tradable securities, as well as other cryptocurrency holdings. The company claims to have the support of a group of well-known institutional investors behind it, including Cathie Wood ( ARK ), MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, as well as individual investor Thomas and Tom Lee, to support its goal of acquiring 5% of the ETH supply.
On September 28, Bitmine Immersion Technologies and Inc issued a statement in Norwalk, Connecticut, stating that as of 3 p.m. Eastern Time on September 27, 2026, the company's holdings included 6,001,302 ETH, valued at $2,698 per coin according to the Coinbase ( NASDAQ : COIN ); 213 bitcoins (BTC ); a stake of $180 million in Beast Industries; a stake of $115 million in Eightco Holdings ( NASDAQ : ORBS ) – the latter two being classified as “moonshots”; and a total of $672 million in cash and tradable securities. The company stated that its ETH holdings equivalent to 4.9% of the total supply of 122.1 million ETH.
Bitmine Chairman Thomas “Tom” Lee indicates that: “The total holdings of Bitmine at ETH have now exceeded 6 million coins. To reach this scale in less than 15 months is an extraordinary achievement. We have already begun to see the synergies and positive network effects that come from holding nearly 5% of the total supply of ETH.”
Lee Also indicates: "Furthermore, we continue to see signals that the bull market for cryptocurrencies that began at the end of June is still in progress. We believe that institutional investment in cryptocurrencies is still insufficient at present, and we expect them to increase their allocation in the last few months of 2026. With just over a week left until the end of the third quarter, Ethereum's outperformance as a macro asset continues to solidify. So far this third quarter, ETH has led other macro assets by 6,728 basis points, and this gap is quite significant."
The company stated that Tom Lee will also deliver a 25-minute keynote speech at the Korea Blockchain Week 2026 event, which will be held at Walkerhill Hotels & Resorts in Seoul at 11:20 a.m. on September 30th (Korean Standard Time). The company mentioned that this event is one of the most important blockchain and digital assets conferences in Asia.
Lee indicates: "Over the past week, we have purchased 17,362 ETH. Bitmine's continuous record of buying cryptocurrencies is unmatched among globally listed companies. Since launching the ETH treasury strategy on June 30, 2025, Bitmine has been buying ETH every week."
On July 16, 2026, Bitmine released the latest edition of the Chairman's Letter, titled " ETH is the antidote to the Valley of Financial Terror."
Bitmine indicates that the company launched an institutional-level staking platform, MAVAN, at the beginning of 2026. This platform was initially developed to support Bitmine's own Ethereum treasury, but it has now been expanded to serve institutional investors, custodians, and ecosystem partners seeking higher-level staking infrastructure. The company stated that some ETH have already started staking through the MAVAN platform.
As of September 27, 2026, Bitmine indicates that the total number of ETH it has pledged is 5,067,309, which is valued at $13.7 billion at a price of $2,698 per coin. Lee states: "The quantity of ETH pledged by Bitmine exceeds that of any other entity in the world. In a large-scale operational state—that is, when all of Bitmine's ETH is pledged through MAVAN and its pledge partners—the expected annual return on the pledged assets is anticipated to reach $424 million, based on a 7-day yield of 2.62% for BMNR."
Lee also indicates: "The current estimated annualized pledge income is 358 million US dollars. In addition, these 5.1 million ETH coins account for 84% of the 6 million ETH coins held by Bitmine. Bitmine itself has achieved an annualized yield of 2.62% in the 7-day period for its pledge business."
According to Bitmine, its stock is one of the most actively traded stocks in the United States. Based on data from Fundstrat, the average daily trading volume as of September 25, 2026, was $1.1 billion, ranking it 94th among the 5,704 listed stocks in the U.S., behind Twilio Inc and ahead of Philip Morris International.
The company stated that, based on the scale of cryptocurrency reserves, Bitmine ranks first in the world in Ethereum reserves and second in overall digital asset reserves, only behind Strategy Inc. ( NASDAQ : MSTR ). It is reported that the latter holds 845,080 BTC, worth approximately $75 billion. Bitmine claims to remain the largest holder of ETH reserves globally.
Bitmine Management believes that the significance of the US GENIUS Act and the "Project Crypto" regulations of the US Securities and Exchange Commission (SEC) for the transformation of the financial services industry in 2026 will be as profound as when the United States ended the Bretton Woods system on August 15, 1971, and decoupled the dollar from the gold standard. The company states that that event in 1971 spurred the modernization of Wall Street, giving rise to iconic industry giants and the current financial and payment infrastructure, and the returns on related investments have subsequently surpassed those of gold.
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE : BMNR) and its subsidiaries are a blockchain technology infrastructure company, with business covering institutional-level collateralization and verification services for digital assets, Bitcoin mining, as well as strategic management of digital assets. The company claims to be one of the world's leading Ethereum treasury companies, implementing digital asset strategies for institutional investors and participants in the public market. It provides institutional-level collateralization and verification infrastructure, thereby earning collateralization rewards and verification income, while also engaging in Bitcoin mining operations. Since 2025, the company has expanded its blockchain infrastructure capabilities, including the development and deployment of its institutional-level collateralization and verification platform MAVAN. Its business also includes investments in early-stage blockchain opportunities, namely “moonshots”, as well as related mining, hosting, and consulting services.
Forward-looking Statements
This press release contains “forward-looking statements” as defined by the revised Private Securities Litigation Reform Act of 1995. Forward-looking statements include any statements that are not purely historical facts and can typically be identified by words such as “expected,” “anticipated,” “intended,” “planned,” “believed,” “estimated,” “predicted,” “targeted,” “possible,” “will,” “should,” “considered,” “seen,” or similar expressions.
Forward-looking statements in this press release specifically include, but are not limited to: the company's goal of acquiring 5% of the total supply of ETH and the statement that "98% of the progress has been completed"; the company's digital asset accumulation and treasury strategy; the continuous weekly purchases of ETH since the launch of the ETH treasury strategy on June 30, 2025; the company's positioning as the world's largest ETH treasury; forecasts such as an annualized reward of approximately $424 million from ETH staking, current estimated annualized staking income of approximately $358 million, and a 7-day yield of 2.62%; plans to expand to institutional investors, custodians, and ecosystem partners for MAVAN; the statement that ETH has outperformed the S&P 500 index by 6,728 basis points so far in the third quarter of 2026; management's views on insufficient allocation of cryptocurrencies by institutions and the ongoing crypto bull market; management's opinions on the GENIUS Act and how SEC "Project Crypto" will bring about significant changes; as well as the company's investments in Eightco Holdings and Beast Industries, with a total holding of $17.2 billion and ETH holdings accounting for 4.9% of the total supply.
The company stated that these forward-looking statements involve significant risks and uncertainties, which may lead to substantial differences between actual results and the explicitly or implicitly stated content.Relevant factors include, but are not limited to: extreme fluctuations and unpredictability in the prices of digital assets such as ETH and Bitcoin; historical price trends, technical analysis indicators, and performance relative to other macro assets may not repeat; the company relies on third-party price sources (including Coinbase) and market quotes to calculate the value of its holdings; the prices and trading volumes of the company's common stock and Series A preferred stock are affected by market conditions; inclusion of Russell may not necessarily result in the expected returns; the company's ability to execute its digital asset acquisition strategy, maintain a weekly purchase record of ETH, and achieve the "5% alchemy" goal; the ability to fund business operations, the Ethereum treasury, and the expansion of MAVAN; operational, security, and technical risks related to staking and verification, including network failures, confiscation events, cybersecurity vulnerabilities, and protocol changes; actual staking participation, earnings, rewards, and revenues may differ significantly from predicted values; competition in the areas of digital asset treasury management, staking, and mining; dependence on key management personnel; regulatory changes affecting digital assets, blockchain technology, and staking activities in the United States and globally; actions by SEC, CFTC and other regulatory authorities; investment risks associated with the company's involvement in early blockchain opportunities such as Eightco Holdings and Beast Industries; macro factors such as inflation, interest rates, Federal Reserve monetary policy, labor market conditions, war risks, rising yields, and overall economic conditions; the unpredictability of the crypto market cycle; changes in the Ethereum protocol, staking mechanisms, verifier requirements, and reward structures; performance of third-party service providers, trading platforms, custodians, and staking partners; and risks related to the concentration of the company's assets in digital currencies, particularly Ethereum.
The company stated that these forward-looking statements are based on information available to management as of the date of this press release and merely reflect their current expectations, estimates, projections, opinions, and beliefs regarding future events and circumstances. Actual results may differ significantly from these statements due to various factors, including those mentioned in the “Risk Factors” section of the company’s 10-K annual report for the fiscal year ending September 30, 2025 (submitted to SEC on November 21, 2025), subsequent 10-Q quarterly reports, and other documents submitted to SEC. The company reminds readers not to rely excessively on any forward-looking statements; unless required by applicable laws or regulations, Bitmine explicitly states that it has no obligation to update, revise, or supplement these statements.
