Bitmine Immersion Technologies (BMNR) has announced significant growth in its Ethereum (ETH) holdings, reaching 6.03 million tokens. This amounts to 4.9% of the total ETH supply of 122.1 million, positioning Bitmine as a major player in the crypto space. The company's total crypto, cash, and marketable securities holdings now stand at $16.2 billion, including $612 million in cash and marketable securities, and other crypto assets.
The company's Chairman, Thomas "Tom" Lee, released a message on October 7, titled "Crypto Bull Underway, This Cycle Likely the Largest," emphasizing Bitmine's strategic position ahead of an expected crypto bull market. Lee highlighted that the majority of Bitmine's ETH accumulation occurred during the crypto bear market, strengthening its competitive position. The company's Series A Preferred Stock (BMNP) has also seen a 24% increase since its issuance in June 2026, outperforming fixed income and other crypto credit yields.
Bitmine's institutional-grade staking platform, MAVAN (Made in America VAlidator Network), has staked 5.07 million ETH, valued at $12.9 billion. The company's consistent buying of ETH each week since June 30, 2025, sets it apart from other public companies. Bitmine remains the largest ETH treasury in the world, with its crypto holdings ranking as the #1 Ethereum treasury and #2 global treasury.
Management believes that the GENIUS Act and the SEC's ProjectCrypto are transformational for financial services, comparing their impact to the 1971 event that ended the Bretton Woods system. Bitmine's strategic investments and institutional support from notable investors like Cathie Wood and Bill Miller III underscore its commitment to acquiring 5% of the ETH supply.