Bitmine Reaches $17.1 Billion in Crypto Holdings, Ethereum Milestone Marked

Bitmine Immersion Technologies (BMNR) has made significant strides in its crypto holdings, reaching $17.1 billion in total value. The company's Ethereum (ETH) holdings have reached 5.98 million tokens, accounting for 4.9% of the total ETH supply of 122.1 million.

According to Tom Lee, Chairman of Bitmine, this marks a major milestone for the company, with only little more than a week left in the third quarter of 2026. He notes that Ethereum has outperformed other macro assets by 6,519 basis points (bp) and believes this is a prelude to stronger up moves in the fourth quarter.

Lee also highlighted Bitmine's track record of consistent buying of crypto, stating that the company has bought ETH every week since June 30, 2025. As of September 20, 2026, Bitmine holds $714 million in total cash and marketable securities, as well as other crypto holdings.

Bitmine's institutional-grade staking platform, MAVAN, has also seen significant growth, with the company's ETH staked on the platform valued at $13.6 billion. Lee notes that annualized staking revenues are projected to reach $357 million, and this 5.1 million ETH is 85% of the 5.98 million ETH held by Bitmine.