Bitmine Reaches 4.9% of Ethereum Supply with $17.4 Billion Holdings

Bitmine Immersion Technologies (BMNR) has 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 and cash holdings now stand at $17.4 billion, including $643 million in cash and marketable securities. Bitmine's ETH holdings are valued at approximately $16.4 billion based on a price of $2,726 per ETH. Additionally, the company has staked 5,067,309 ETH, generating annualized staking revenues of $363 million.

Tom Lee, Chairman of Bitmine, highlighted the company's outperformance during the bear market of 2025-2026, noting that BMNR's share price declined by only 3% while ETH fell by 10%. Lee also emphasized Bitmine's commitment to shareholder returns, citing the largest-ever crypto treasury equity buyback, which acquired 21 million shares in 2026. He will deliver a keynote at the Token2049 conference in Singapore on October 7, 2026.

Bitmine launched MAVAN, an institutional-grade staking platform, which has expanded to serve institutional investors and ecosystem partners. The company's crypto holdings rank as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc. (MSTR), which holds 847,666 Bitcoin (BTC). Bitmine'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.

The company's stock is one of the most widely traded in the US, with an average daily dollar volume of $827 million. Bitmine's strategic investments include $117 million in Eightco Holdings (ORBS) and $180 million in Beast Industries. The company's Chairman's Message for October 2026, titled 'Crypto bull underway, this cycle likely the largest,' is set to be released this week.