Bitmine Closes in on 5% ETH Target with $17.4 Billion in Holdings
Bitmine Immersion Technologies (BMNR) has made significant announcements regarding its Ethereum holdings and overall financial performance. As of October 4, 2026, the company holds 6.02 million ETH tokens, representing 4.9% of the total ETH supply of 122.1 million. This milestone marks a significant achievement for BMNR, as it is 99% of the way to its goal of acquiring 5% of the ETH supply in just 15 months.
BMNR's Chairman, Tom Lee, commented on the company's performance, stating that the share price outperformed ETH by 50.9% in the first 9 months of 2026. Lee attributed this success to the company's commitment to optimizing shareholder return and executing the largest ever crypto treasury equity buyback. BMNR acquired 21 million shares in 2026 alone.
The company's total crypto and cash holdings stand at $17.4 billion, including $643 million in cash and marketable securities. BMNR's staking operations have generated a 7-day yield of 2.63%, with an annualized staking revenue projected at $363 million. The company's staked ETH stands at 5,067,309, valued at $13.8 billion at $2,726 per ETH.