Bitmine Hits 6.02 Million ETH Tokens in Major Crypto Milestone
Bitmine Immersion Technologies (BMNR) has announced a significant milestone in its Ethereum holdings, reaching 6.02 million ETH tokens. This represents 4.9% of the total ETH supply of 122.1 million, placing Bitmine among the top holders of the cryptocurrency. The company's total crypto and cash holdings now amount to $17.4 billion, including $643 million in cash and marketable securities.
Bitmine's ETH holdings are not only substantial but also strategically staked. The company has 5,067,309 ETH staked, valued at $13.8 billion at the current price of $2,726 per ETH. This staking is part of Bitmine's Made in America VAlidator Network (MAVAN), which serves as a premier Ethereum staking destination for both Bitmine and institutional investors.
Tom Lee, Chairman of Bitmine, highlighted the company's outperformance during the bear market of 2025-2026. He noted that while ETH declined by 10% in the first nine months of 2026, Bitmine's share price only dropped by 3%, reflecting a 731 basis point outperformance. Lee also emphasized Bitmine's commitment to optimizing shareholder returns through actions like executing the largest-ever crypto treasury equity buyback.
In addition to its ETH holdings, Bitmine owns other significant assets, including 214 Bitcoin (BTC), a $180 million stake in Beast Industries, and a $117 million stake in Eightco Holdings (NASDAQ: ORBS). The company is supported by a group of prominent institutional investors, including ARK's Cathie Wood, Founders Fund, and Thomas "Tom" Lee.