NORWALK, Conn., Nov. 9, 2026 /PRNewswire/ — Bitmine Immersion Technologies, Inc. (NYSE: BMNR) announced that its crypto, total cash and marketable securities, and “moonshots” holdings totaled $14.3 billion as of November 8, 2026, at 2:00 p.m. ET.

The company said its holdings comprised 6,070,092 ETH valued at $2,234 per ETH, based on Coinbase (NASDAQ: COIN), 216 Bitcoin (BTC), a $180 million stake in Beast Industries, a $75 million stake in Eightco Holdings (NASDAQ: ORBS), and $475 million in cash and marketable securities. Bitmine said its ETH holdings represented 4.97% of the total ETH supply of 122.2 million ETH.

Bitmine described its holdings as placing it 99% of the way toward its “Alchemy of 5%” goal of acquiring 5% of the total ETH supply. The company said it has reached that position in 15 months and remains supported by institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas “Tom” Lee.

The company also said it was added to the Russell 1000 large-cap index on June 26, 2026. Bitmine’s Series A Preferred Stock trades on the NYSE under the symbol BMNP.

Lee cites Buterin’s comments on ETH

Thomas “Tom” Lee, Bitmine’s chairman, cited comments by Vitalik Buterin, founder of Ethereum, at Devcon 8 in Mumbai: “I’ve finally made up my mind, ETH is a store of value, ETH is money.”

“This declaration by the founder of Ethereum, in my view, is a seismic shift, clarifying how ETH will capture value in this coming supercycle of tokenization and AI,” Lee stated.

Lee said, “In my opinion, ETH was not a ‘cash flow’ token model, like HYPE or LIT, but rather pristine and trusted collateral, and reflective of how Ethereum is the Layer 1 chosen by the vast majority of financial institutions moving assets onto the blockchain.”

Bitmine said Buterin further clarified his views in an X.com post explaining why he believes in “ETH as store of value (SoV).” The three reasons described in the post were that ETH’s fee-burning mechanism is not as strong “as it seemed”; optimizing for fee-burning is not necessarily compatible with decentralization and capture resistance; and optimizing for SoV aligns with ETH’s strengths of decentralization and CROPS.

The post is available at https://x.com/VitalikButerin/status/2119401255919604064.

“In other words, ETH as a Store of Value is most consistent with the future roadmap of ETH and also the role ETH will play in the coming super tokenization supercycle,” Lee added.

Weekly ETH purchases and staking

“Over the past week, we acquired 9,587 ETH. Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each week since the inception of the ETH Treasury Strategy on June 30, 2025,” Lee stated.

On October 7, Bitmine released its latest Chairman’s Message, titled “Crypto Bull Underway — This Cycle Likely the Largest.” The presentation is available at and

Earlier in 2026, Bitmine launched MAVAN, the Made in America VAlidator Network, as an institutional-grade staking platform. The company said MAVAN was initially developed to support its Ethereum treasury and has expanded to serve institutional investors, custodians and ecosystem partners seeking staking infrastructure. A portion of Bitmine’s ETH is already staked through MAVAN.

As of November 8, 2026, Bitmine had 5,227,037 ETH staked, valued at $11.7 billion at a price of $2,234 per ETH. Bitmine said MAVAN is a premier Ethereum staking destination for BMNR and institutional investors.

“Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking rewards would be $359 million on an annualized basis, using BMNR’s trailing 7-day staking yield of 2.65% as of November 8, 2026,” Lee said. “This compares to annualized staking rewards of $309 million based upon 5.2 million staked ETH (86% of the 6.07 million ETH held by Bitmine).”

Bitmine said its crypto holdings represented the No. 1 Ethereum treasury and the No. 2 global treasury, behind Strategy Inc., which reportedly owns 849,327 BTC valued at approximately $69 billion. The company said it remained the largest ETH treasury in the world.

Company and other holdings

Bitmine said it owns $75 million of Eightco Holdings (NASDAQ: ORBS), which it described as one of the only publicly listed equities in the world providing investors with indirect exposure to OpenAI. The company also reported a $180 million stake in Beast Industries.

Bitmine management said it believes the GENIUS Act and the Securities and Exchange Commission’s Project Crypto could be as transformational to financial services in 2026 as the U.S. action on August 15, 1971, which ended the Bretton Woods system and took the U.S. dollar off the gold standard 55 years ago. According to management, that 1971 event helped catalyze the modernization of Wall Street and the creation of the Wall Street firms and financial and payment infrastructure in use today.

The company’s Fiscal Full Year 2025 earnings presentation and corporate presentation are available at Bitmine’s contact page is

About Bitmine

Bitmine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries, is a blockchain technology infrastructure company operating across 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 said 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.

Bitmine holds digital assets strategically 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. Its activities also include investments in early-stage blockchain opportunities, referred to as “moonshot” investments, as well as ancillary mining, hosting and consulting services.

Additional information is available through Bitmine’s X account at https://x.com/bitmnr and Fundstrat’s X account at https://x.com/fundstrat.

Cautionary note on forward-looking statements

This press release contains statements that constitute “forward-looking statements” within the meaning of 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,” or similar expressions.

The press release specifically identifies forward-looking statements regarding: (i) Bitmine’s goal of acquiring 5% of the total ETH supply, known as the “Alchemy of 5%” initiative; (ii) the company’s digital asset accumulation and treasury strategy, including continued weekly ETH acquisitions and its status as the largest ETH treasury in the world; (iii) staking operations, including projected annualized ETH staking rewards of approximately $359 million at scale and currently projected annualized staking revenues of approximately $309 million based on currently staked ETH; (iv) MAVAN’s expansion to serve institutional investors, custodians and ecosystem partners; (v) management’s views regarding crypto market conditions, including the view that a crypto bull market is underway and the significance of the market reaction to the Binance theft and the resilience of the crypto industry; (vi) management’s opinion regarding the potential impact of the GENIUS Act and SEC Project Crypto on financial services; and (vii) statements regarding the value of Bitmine’s crypto, cash, marketable securities and “moonshot” holdings.

These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause or contribute to such differences include the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin; the risk that ETH does not achieve or maintain acceptance as a store of value; and Bitmine’s reliance on third-party pricing sources and reported market values, which may fluctuate materially.

Additional risks include changes in market conditions affecting the trading price and volume of the company’s securities; Bitmine’s ability to execute its digital asset acquisition strategy and achieve its ETH accumulation targets, including the “Alchemy of 5%” goal; and the company’s ability to finance its business operations and MAVAN expansion.

The risks also include operational, security and technological risks associated with Bitmine’s staking and validation operations, including network failures, slashing events, cybersecurity breaches, thefts and exploits involving exchanges, custodians and other industry participants, and protocol changes. Actual staking yields and rewards may differ materially from projected amounts.

Other risks include competition in the digital asset treasury, staking and mining industries; dependence on key personnel; regulatory developments affecting digital assets, blockchain technology and staking activities, including the implementation and interpretation of the GENIUS Act, SEC Project Crypto and other proposed legislation or rulemaking; and actions by the SEC, CFTC and other regulatory bodies.

Risks also relate to Bitmine’s “moonshot” investments, including its investments in Eightco Holdings and Beast Industries, and the performance of the underlying companies to which those investments provide indirect exposure. Macroeconomic factors, including inflation, interest rates and general economic conditions; changes to the Ethereum protocol or roadmap; the performance of third-party service providers, exchanges, custodians and staking partners; and other risk factors described in the company’s SEC filings may also affect results.

The forward-looking statements in the press release 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 from those expressed or implied 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 from time to time.

Copies of these filings are available at www.sec.gov 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.