Bitmine reports 6.04 million ETH and $15.1 billion in total holdings

NORWALK, Conn., Oct. 19, 2026 /PRNewswire/ -- Bitmine Immersion Technologies, Inc. (NYSE: BMNR) said its crypto, cash, marketable securities and “moonshot” holdings totaled $15.1 billion as of October 18, 2026.

The company said it held 6,041,481 ETH at $2,365 per ETH, based on Coinbase (NASDAQ: COIN), representing 4.9% of the total ETH supply of 122.1 million. Bitmine said it is 99% of the way toward its “Alchemy of 5%” objective after 15 months — a residual gap of roughly 63,500 ETH at the cited supply figure. ETH is the native asset of the Ethereum blockchain, used to pay transaction fees and, when staked, to help secure the network in exchange for rewards.

As of October 18 at 3:00 p.m. ET, Bitmine’s holdings also included 215 Bitcoin (BTC), a $180 million stake in Beast Industries, the company founded by YouTube creator Jimmy “MrBeast” Donaldson, a $74 million stake in Eightco Holdings (NASDAQ: ORBS), and $582 million in cash and marketable securities. The Beast Industries and Eightco positions were described as “moonshots.” Bitmine said its Eightco investment provides indirect exposure to OpenAI and that Eightco is now one of the only publicly listed equities in the world to offer such exposure.

Bitmine said it acquired 12,535 ETH during the preceding week and has purchased ETH every week since launching its ETH Treasury Strategy on June 30, 2025. The company described its record of consistent crypto purchases as unmatched by any public company in the world.

Chairman discusses market conditions

Thomas “Tom” Lee, Bitmine’s chairman and the co-founder of equity research firm Fundstrat Global Advisors, said investor risk appetite had contracted in recent weeks because of what he described as the combination of concerns about AI funding and AI model safety, escalating U.S.-Iran war activity, anxiety ahead of the U.S. midterm elections scheduled for November 2026 and generally rising bond yields worldwide.

“This has triggered a selloff in AI stocks including semis and memory stocks, and has further led to selloffs in the Korean and Taiwan markets, both of which are dominated by semis and memory stocks,” Lee said.

“Crypto is widely held in the US, Korea and Taiwan. So naturally, when investors in those regions de-risk, this creates spillover pressures in crypto markets. In the past, whenever fundamentals remain resilient and strong, while price declines, these have historically been attractive risk/reward opportunities. And given crypto’s positive exposure to both modernizing global financial system rails and to agentic-AI, we believe this will again prove to be the case,” Lee continued.

Lee also said Bitmine was positioned to outperform an expected crypto bull market because it had strengthened its competitive position over the preceding year during a crypto winter, or bear market. The company’s October 7 chairman’s message was titled “Crypto Bull Underway — This Cycle Likely the Largest.” The chairman’s message is available at

Staking operations and MAVAN

Bitmine launched MAVAN, the Made in America VAlidator Network, earlier in 2026 as an institutional-grade staking platform. The company initially developed MAVAN to support its own Ethereum treasury but said the platform has expanded to serve institutional investors, custodians and ecosystem partners seeking staking infrastructure. A portion of Bitmine’s ETH is already staked through MAVAN. Staking commits ETH to Ethereum’s proof-of-stake network — the design the chain adopted in September 2022 when it retired proof-of-work mining — where validators process transactions and earn rewards paid in ETH, making staking the principal source of on-chain yield on the asset.

As of October 18, Bitmine said total staked ETH stood at 5,067,309, valued at $12 billion using an ETH price of $2,365. The company said this was more ETH than had been staked by any other entity in the world.

“At scale (assuming Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward would be $369 million on an annualized basis (using 2.58% 7-day BMNR yield). This compares to annualized staking revenues at $309 million based upon 5.1 million staked ETH (84% of the 6.04 million ETH held by Bitmine),” Lee said.

By the release’s own figures, the roughly $60 million difference between those two projections corresponds to the approximately 974,000 ETH of Bitmine’s treasury that had not yet been staked as of October 18.

Bitmine said its crypto holdings represent the world’s largest Ethereum treasury and the second-largest global treasury, behind Strategy Inc. (formerly MicroStrategy), which reportedly owns 848,250 BTC valued at approximately $74 billion. The company said it remains the largest ETH treasury in the world.

Bitmine was added to the Russell 1000, the FTSE Russell index tracking roughly 1,000 large- and mid-cap U.S. companies, on June 26, 2026. Its Series A Preferred Stock trades on the NYSE under the symbol BMNP. The company said it continues to receive support from institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG and Galaxy Digital, as well as personal investor Thomas “Tom” Lee, in support of its goal of acquiring 5% of the ETH supply.

Bitmine management said it believes the GENIUS Act, the U.S. stablecoin legislation signed into law in July 2025, and the Securities and Exchange Commission’s (SEC) Project Crypto, an initiative to adapt securities rules for on-chain markets, could be as transformational for financial services in 2026 as the U.S. action on August 15, 1971, which ended the Bretton Woods system and removed the U.S. dollar from the gold standard 55 years ago. The company said that 1971 event helped catalyze the modernization of Wall Street and the creation of today’s major financial and payment rails.

The Fiscal Full Year 2025 earnings presentation and corporate presentation are available at Users can sign up for updates at

About Bitmine

Bitmine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries, is a blockchain technology infrastructure company operating in institutional digital asset staking and validation services, bitcoin mining and strategic digital asset management. The company describes itself as the world’s leading Ethereum Treasury company and says it implements a digital asset strategy for institutional investors and public-market participants.

Bitmine provides institutional-grade staking and validation infrastructure through which it earns staking rewards and validation income, alongside bitcoin mining activities. It holds digital assets and generates yield on those holdings to support liquidity and capital formation. Since 2025, the company has expanded its blockchain infrastructure capabilities, including through the development and deployment of MAVAN, its institutional staking and validation platform.

The company’s activities also include investments in early-stage blockchain opportunities, referred to as “moonshot” investments, as well as ancillary mining, hosting and consulting services.

For additional details, Bitmine lists the following accounts on X:

https://x.com/bitmnr

https://x.com/fundstrat

Cautionary note on forward-looking statements

This press release contains statements that constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include statements that are not purely historical and can generally be identified by terms such as “expects,” “projects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” “may,” “will,” “would,” “could,” “should,” “view,” “likely,” “positioned” or similar expressions.

The forward-looking statements in the release concern: Bitmine’s goal of acquiring 5% of the total ETH supply, known as the “Alchemy of 5%” initiative; its digital asset accumulation and treasury strategy, including continued weekly ETH acquisitions and its status as the largest ETH treasury in the world; its staking operations, including projected annualized ETH staking rewards of approximately $369 million at scale if its ETH is fully staked by MAVAN and its staking partners, and currently projected annualized staking revenue of approximately $309 million; and MAVAN’s expansion to institutional investors, custodians and ecosystem partners.

They also include management’s views regarding crypto market conditions, including expectations of a coming crypto bull market and that the current cycle is likely to be the largest; the view that recent price declines represent attractive risk/reward opportunities; and the belief that Bitmine is positioned to outperform the crypto bull market. Other forward-looking statements address management’s views on the effects of investor risk appetite, AI funding and AI model safety, geopolitical events, U.S. midterm elections, bond yields, and Korean and Taiwanese market conditions on crypto markets, as well as crypto’s exposure to modernizing global financial system rails and agentic-AI.

The statements further include management’s belief that the GENIUS Act and SEC Project Crypto are transformational to financial services, and statements concerning the value of Bitmine’s crypto, cash, marketable securities and “moonshot” holdings, including the indirect exposure to OpenAI provided by the company’s investment in Eightco Holdings.

These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Relevant factors include the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin; Bitmine’s reliance on third-party pricing sources and reported market values, which may fluctuate materially; changes in market conditions affecting the trading price and volume of the company’s securities; and Bitmine’s ability to execute its digital asset acquisition strategy and achieve its ETH accumulation targets, including the “Alchemy of 5%” goal.

Other risks include Bitmine’s ability to finance its operations and MAVAN’s expansion; operational, security and technological risks associated with staking and validation, including network failures, slashing events, cybersecurity breaches and protocol changes; the possibility that actual staking yields, rewards and revenues differ materially from projected amounts, including if the company’s ETH is not fully staked; competition in digital asset treasury, staking and mining industries; and dependence on key personnel.

Additional risks include regulatory developments affecting digital assets, blockchain technology and staking activities, including the enactment, implementation and interpretation of the GENIUS Act and other pending legislation; actions by the SEC, the CFTC and other regulatory bodies; risks related to Bitmine’s “moonshot” investments, including in Eightco Holdings and Beast Industries; and macroeconomic and geopolitical factors such as inflation, interest rates, bond yields, military conflicts, elections and general economic conditions.

The company also identified volatility in AI-related and semiconductor equities and foreign markets, including Korea and Taiwan; changes to the Ethereum protocol; the performance of third-party service providers, exchanges, custodians and staking partners; and other risk factors described in Bitmine’s filings with the SEC.

The forward-looking statements are based on information available to management as of the release date and reflect management’s current expectations, estimates and beliefs concerning future events. Actual results may vary materially based on the factors described above and in the Risk Factors section of Bitmine’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025, filed with the SEC on November 21, 2025; the company’s Quarterly Reports on Form 10-Q; and its other SEC filings, as amended or updated.

Copies of those filings are available at and Bitmine cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. The company expressly disclaims any obligation to update or revise forward-looking statements except as required by applicable law.