Bitmine holds 4.97% of the total 1.222 million Ether in circulation.
Ethereum founder Vitalik Buterin stated: "I have finally made up my mind: ETH is a means of value storage, while ETH is a currency."
Bitmine has completed 99% of the " Alchemy of 5%" goal in just 15 months.
Bitmine released the chairman's latest speech on October 7th, titled " Crypto Bull Underway — This Cycle Likely the Largest "
Bitmine was included in the Russell 1000 index on June 26, 2026.
The A-series preferred stocks of Bitmine are traded on the New York Stock Exchange, with the code BMNP.
Bitmine has pledged 5,227,037 ETH, and calculated at $2,234 per ETH, it is worth 11.7 billion US dollars. MAVAN ( Made in America VAlidator Network ) is a leading Ethereum staking platform for BMNR and institutional investors.
Bitmine holds Eightco (Nasdaq ticker: ORBS) shares worth $75 million, and the latter is now one of the few publicly traded companies in the world that allow investors to indirectly gain exposure to OpenAI.
The total value of Bitmine's encrypted assets, cash, tradable securities, and " moonshot " investments amounts to 1.43 billion US dollars, which includes 6.07 million ETH, a total of 475 million US dollars in cash and tradable securities, as well as other encrypted assets.
Bitmine has received support from a group of well-known institutional investors, including Cathie Wood from ARK, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital from ARK, as well as private investors Thomas, Tom, and Lee. This support is aimed at helping Bitmine achieve its goal of acquiring 5% of the total ETH supply.
Norwalk, Connecticut, USA, November 9, 2026 / PRNewswire / -- (New York Stock Exchange ticker: BMNR ) Bitmine Immersion Technologies , Inc . (“Bitmine” or “the Company”) is a Bitcoin and Ethereum network company focused on long-term investment in accumulating crypto assets. The Company announced today that the total value of its crypto assets, cash, tradable securities, and “moonshot” investments amounts to $14.3 billion.
As of 2:00 PM Eastern Time on November 8, 2026, the company holds 6,070,092 units of ETH, calculated at a price of $2,234 per unit as provided by Coinbase; it also holds 216 bitcoins (BTC), a stake of $180 million in Beast Industries, a stake of $75 million in Eightco Holdings (Nasdaq symbol: ORBS ("moonshots"), as well as a total of $475 million in cash and tradable securities. The holding of ETH in Bitmine is equivalent to 4.97% of the total supply of 1.222 million units of ETH.
Bitmine Chairman Thomas “Tom” Lee states: “Ethereum’s founder Vitalik Buterin once said in Mumbai: ‘I have finally made up my mind: ETH is a means of value storage, and ETH is money.’ I believe this statement signifies a major shift and clearly explains how ETH will gain value in the upcoming super cycle of tokenization and AI.”
In my opinion, ETH is not a token model based on cash flow like HYPE or LIT, but rather an uncorrupted and reliable collateral. This also reflects that Ethereum is the blockchain chosen by the vast majority of financial institutions that are migrating their assets onto the chain, Lee added.
Vitalik then further explained in X.com why he regards ETH as a means of value storage ( SoV ). The three reasons he mentioned are:
- As a token that is destroyed as a transaction fee, ETH has never seemed so strong before;
- Optimizations centered around transaction fees may not necessarily be compatible with decentralization and resistance to unilateral takeover;
- Optimized around the means of value storage ( SoV ), in line with the advantages of ETH – decentralization and CROPS –.
"In other words: ETH fits best as a means of value storage, in line with the future roadmap of ETH and the role that ETH will play in the next round of large-scale tokenization supercycles," Lee added.
Over the past week, we have purchased 9,587 units of ETH. No other publicly traded company in the world can match Bitmine's record of continuous purchases of crypto assets. Since launching the ETH treasury strategy on June 30, 2025, Bitmine has been purchasing ETH every week, stated Lee.
Bitmine released the latest chairman's speech on October 7th, titled “Crypto Bull Underway — This Cycle Likely the Largest”. Relevant demonstrations can be viewed on the Bitmine website (demonstration link).
Earlier this year, Bitmine launched MAVAN (which includes Made, in, and America VAlidator Network), a set of institutional-level staking platforms. MAVAN was initially developed to support Bitmine's own Ethereum treasury, but has since been expanded to serve institutional investors, custodians, and ecosystem partners seeking top-tier staking infrastructure. A portion of ETH has already been staked on the MAVAN platform.
As of November 8, 2026, Bitmine has pledged a total of 5,227,037 ETH, which is valued at $11.7 billion at a price of $2,234 per coin. Lee states: "The quantity of ETH pledged by Bitmine exceeds that of any other institution globally. If the entire scale is taken into account, and when all ETH of Bitmine are pledged through MAVAN and its pledging partners, the annual ETH pledging rewards are expected to reach $359 million. Assuming that as of November 8, 2026, the pledging yield over the past seven days for BMNR was 2.65%, the annualized pledging reward based on the currently pledged 5.2 million ETH would be $309 million (which is equivalent to 86% of the 6.07 million ETH held by Bitmine)."
The encrypted assets of Bitmine make it the largest Ethereum treasury in the world, as well as the second-largest treasury globally, only behind Strategy Inc. It is said that Strategy holds 849,327 BTC, worth approximately $69 billion. Bitmine remains the largest ETH treasury in the world.
Management believes that the impact of the US GENIUS Act and the Project Crypto of the US Securities and Exchange Commission (SEC) on the financial services industry in 2026 could be as profound as the decision on August 15, 1971, to end the Bretton Woods system and decouple the US dollar from the gold standard. That event 55 years ago served as a catalyst for the modernization of Wall Street and gave rise to the iconic giants of today's Wall Street as well as the current financial and payment infrastructure.
For the chairman's speech, please refer to here:
https :// www.Bitminetech.io / chairmans-message
For the 2025 fiscal year performance conference call and company introduction, please refer to: https :// Bitminetech.io / investor-relations /
For continuous follow-up, you can register here: https :// Bitminetech.io / contact-us /
About Bitmine
Bitmine Immersion Technologies, Inc (New York Stock Exchange ticker: BMNR) and its subsidiaries ("Bitmine" or "the Company") is a blockchain technology infrastructure company whose business covers institutional-level digital asset staking and verification services, Bitcoin mining, as well as strategic management of digital assets. As a global leader in Ethereum treasury companies, Bitmine is implementing an innovative digital asset strategy for institutional investors and participants in the public capital markets. The company provides institutional-level staking and verification infrastructure to generate staking rewards and verification income, and is also engaged in Bitcoin mining. Bitmine strategically holds digital assets and earns income from these assets to support liquidity and capital formation. Since 2025, the company has expanded its blockchain infrastructure capabilities, including the development and deployment of MAVAN – its institutional-level staking and verification platform. The company's business also includes investments in early-stage blockchain projects ("moonshot investments"), as well as additional mining, hosting, and consulting services.
For more information, please follow X:
https :// x.com / bitmnr
https :// x.com / fundstrat
Forward-looking Statements Warning
This press release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 (as amended). Forward-looking statements include any statements that are not purely historical facts and can typically be identified by words such as “expects”, “anticipates”, “plans”, “believes”, “projects”, “estimates”, “may”, “will”, “should”, “vision”, or similar expressions. This press release particularly contains forward-looking statements regarding the following matters: (i) the company’s goal of acquiring 5% of the total ETH supply (“Alchemy of 5%” plan); (ii) the company’s digital asset accumulation strategy and treasury strategy, including continuous weekly purchases of ETH and the company’s position as the world’s largest ETH treasury; (iii) the company’s staking activities, including an estimated annual staking reward of approximately $359 million at full scale, as well as an estimated annualized staking income of approximately $309 million based on the currently staked ETH; (iv) the expansion of MAVAN to service institution investors, custodians, and ecosystem partners; (v) management’s views on the state of the crypto market, including the belief that the crypto market is in a bull market, as well as views on the market reaction to the Binance theft incident and the resilience of the crypto industry; (vi) management’s views on the potential impact of GENIUS Act and SEC Project Crypto on the financial services industry; and (vii) statements regarding the value of the company’s crypto assets, cash, tradable securities, and “moonshot” investments.
These forward-looking statements involve significant risks and uncertainties, which may lead to substantial differences between actual results and those described or implied in this document.Factors that may lead to or contribute to such differences include, but are not limited to: extreme volatility and unpredictability of digital asset prices (including ETH and Bitcoin); the risk that ETH is not accepted as a means of value storage or fails to maintain that status; the company's dependence on third-party price data and reports of market values, which can fluctuate significantly; changes in the market environment that affect the trading prices and volumes of the company's securities; the company's ability to successfully execute its digital asset acquisition strategy and achieve the ETH holding construction goals, including the “Alchemy of 5%” target; the company's ability to finance business operations and MAVAN expansion; operational, security, and technical risks related to the company's pledging and verification activities, including network disruptions, penalty events, cybersecurity vulnerabilities (including theft and exploitation by exchanges, custodians, and other market participants), and protocol changes; the risk that actual pledging earnings and rewards may differ significantly from expected amounts; competition in the digital asset treasury, pledging, and mining industries; the company's dependence on key management personnel; regulatory developments affecting digital assets, blockchain technology, and pledging activities, including the implementation and interpretation of GENIUS Act, SEC Project Crypto, and other proposed legislative or regulatory measures; actions by SEC, CFTC, and other regulatory authorities; risks associated with the company's “moonshot” investments, including investments in Eightco Holdings and Beast Industries, as well as the performance of the underlying enterprises indirectly exposed by these investments; macroeconomic factors, including inflation, interest rates, and overall economic conditions; changes to the Ethereum protocol or roadmap; the performance of third-party service providers, exchanges, custodians, and pledging partners; and other risk factors described in the documents submitted by the company to SEC.
The forward-looking statements in this press release are based on information available to management as of the date of issuance and reflect management’s current expectations, estimates, and beliefs regarding future events. Actual results may differ significantly from those expressed or implied in the forward-looking statements due to various factors, including those mentioned in the “Risk Factors” sections of the company’s 10-K annual report for the fiscal year ending September 30, 2025, the documents submitted to SEC on November 21, 2025, the 10-Q quarterly reports, and other documents submitted to SEC. These documents may be revised or updated from time to time. Copies of the aforementioned documents are available for review at www.sec.gov and https :// Bitminetech.io / investor-relations. The company reminds readers not to rely excessively on such forward-looking statements, which are only valid as of the date they are made. Except as required by applicable laws, Bitmine explicitly disclaims any obligation to update or revise forward-looking statements.
