Bitmine Reaches 6.02 Million ETH Holdings Valued at $17.4 Billion

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, cash, and marketable securities holdings now stand at $17.4 billion, including $643 million in cash and marketable securities, 214 Bitcoin (BTC), and other crypto assets. The ETH holdings are valued at $2,726 per token, with 5,067,309 ETH staked, generating significant staking rewards.

Tom Lee, Chairman of Bitmine, highlighted the company's outperformance during the 2025-2026 bear market, noting that while ETH declined 10% in the first nine months of 2026, BMNR shares were down only 3%. Lee also pointed out that ETH outperformed the S&P 500 by 6,832 basis points in the third quarter of 2026. He attributed this performance to the company's commitment to optimizing shareholder returns, including executing the largest crypto treasury equity buyback in 2026.

Bitmine launched MAVAN, the Made in America VAlidator Network, an institutional-grade staking platform that supports its Ethereum treasury and serves institutional investors. The company's staking operations generated a 7-day yield of 2.63%, with annualized staking revenues projected at $363 million. Bitmine remains the largest ETH treasury in the world, behind only Strategy Inc. (MSTR) in terms of global treasury holdings.

Tom Lee will deliver a keynote at the Token2049 conference in Singapore on October 7, 2026. The company's latest Chairman's Message for October 2026, titled 'Crypto bull underway, this cycle likely the largest,' is set to be released this week. Bitmine's stock is one of the most widely traded in the US, with an average daily dollar volume of $827 million, ranking #125 among US-listed stocks.