Bitmine Reaches $15.7 Billion in Crypto Holdings, Predicts Ethereum Adoption Boom
Bitmine Immersion Technologies (BMNR) announced its Ethereum holdings have reached 5.93 million tokens, representing 4.9% of the total ETH coin supply of 122 million. The company's crypto and cash holdings now stand at $15.7 billion.
Since June 30th, four out of the top 21 best-performing stocks in the Russell 1000 are related to cryptocurrency equities, with Ethereum being the best-performing macro asset in Q3 so far. Bitmine's common stock has gained a staggering 99% this quarter, ranking fourth among the top performers.
Thomas 'Tom' Lee, Chairman of Bitmine, stated, 'We believe there are multiple positive catalysts as we head into the final months of 2026.' He highlighted upcoming events such as the CLARITY Act vote and increased Korean investment in cryptocurrency. Lee also mentioned that the ETH/BTC ratio is expected to rise due to growing adoption of Ethereum by Wall Street and agentic-AI using blockchains.