Bitmine Immersion Technologies Reaches 6.02 Million ETH Holdings
Bitmine Immersion Technologies (BMNR) announced that its Ethereum (ETH) holdings have reached 6.02 million tokens, representing 4.9% of the total ETH supply. The company's total crypto, cash, and marketable securities holdings now amount to $17.4 billion, including $643 million in cash and marketable securities. Bitmine also owns 214 Bitcoin (BTC), a $180 million stake in Beast Industries, and a $117 million stake in Eightco Holdings (NASDAQ: ORBS), described as "moonshots".
The company's ETH holdings are staked through its MAVAN (Made in America VAlidator Network) platform, with 5,067,309 ETH staked, valued at $13.8 billion at $2,726 per ETH. Bitmine Chairman Thomas "Tom" Lee highlighted the company's consistent ETH accumulation, noting that Bitmine has bought ETH every week since the inception of its ETH Treasury Strategy on June 30, 2025.
Lee also emphasized Bitmine's outperformance during the 2025-2026 bear market, stating that while ETH declined 10% in the first nine months of 2026, BMNR was down by only 3%. He attributed this to the company's commitment to optimizing shareholder returns, including executing the largest crypto treasury equity buyback, acquiring 21 million shares in 2026 alone.
Bitmine remains one of the most widely traded stocks in the US, with an average daily dollar volume of $827 million. The company's management believes that the GENIUS Act and the SEC's Project Crypto are transformational for financial services, comparing their impact to the 1971 end of the Bretton Woods system.