Bitmine Hits 6.02 Million ETH Tokens, Total Holdings Reach $17.4 Billion
Bitmine Immersion Technologies (BMNR) has announced a significant milestone in its crypto holdings, with its Ethereum (ETH) tokens reaching 6.02 million, equating to 4.9% of the total ETH supply. The company's total crypto and cash holdings now stand at $17.4 billion, including $643 million in cash and marketable securities. Bitmine's ETH holdings are currently valued at approximately $16.4 billion, based on a price of $2,726 per ETH. The company has also staked 5,067,309 ETH, generating an annualized staking revenue of $363 million.
Thomas 'Tom' Lee, Chairman of Bitmine, highlighted the company's outperformance during the bear market of 2025-2026, noting that while ETH declined 10% in the first nine months of 2026, BMNR was down by only 3%. Lee attributed this performance to the company's commitment to optimizing shareholder returns, including executing the largest ever crypto treasury equity buyback, acquiring 21 million shares in 2026 alone. He also emphasized Bitmine's consistent buying of ETH each week since the inception of the ETH Treasury Strategy on June 30, 2025.
Bitmine's institutional-grade staking platform, MAVAN (Made in America VAlidator Network), has expanded to serve institutional investors, custodians, and ecosystem partners. The platform is projected to generate $431 million in annualized staking rewards at scale. Bitmine remains the largest ETH treasury in the world, ahead of Strategy Inc. (MSTR), which owns 847,666 Bitcoin (BTC) valued at approximately $78 billion.
Tom Lee will deliver the keynote at Token2049 on October 7, 2026, in Singapore, discussing the company's goals and the transformational impact of the GENIUS Act and the SEC's Project Crypto on financial services. Bitmine's latest Chairman's Message for October 2026, titled 'Crypto bull underway, this cycle likely the largest,' is set to be released this week.