Bitmine Reaches 6.02 Million ETH with $17.4 Billion in Holdings
Bitmine Immersion Technologies (BMNR) has announced a significant milestone in its crypto holdings, reaching 6.02 million ETH tokens, which represents 4.9% of the total ETH supply. The company's total crypto and cash holdings, including its "moonshots" investments, now amount to $17.4 billion. This includes 6.01 million ETH tokens valued at $2,726 per ETH, 214 Bitcoin (BTC), a $180 million stake in Beast Industries, a $117 million stake in Eightco Holdings (NASDAQ: ORBS), and $643 million in total cash and marketable securities.
Thomas "Tom" Lee, Chairman of Bitmine, highlighted the company's outperformance during the bear market of 2025-2026. In the first nine months of 2026, ETH declined by 10% while BMNR was down by only 3%, reflecting a 731 basis point outperformance. Lee also noted that ETH outperformed the S&P 500 by 6,832 basis points in the third quarter of 2026, despite substantial macro headwinds.
Bitmine's staking platform, MAVAN (Made in America VAlidator Network), has staked 5,067,309 ETH, valued at $13.8 billion. Lee projected annualized staking revenues at $363 million, with a 7-day yield of 2.63%. The company remains supported by a group of institutional investors, including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, and personal investor Thomas "Tom" Lee.
Bitmine will release its latest Chairman’s Message for October 2026 this week, titled "Crypto bull underway, this cycle likely the largest." Additionally, Tom Lee will deliver the keynote at Token2049 on October 7, 2026, in Singapore. Bitmine's Series A Preferred Stock is trading on the NYSE under the symbol BMNP, and the company was added to the Russell 1000 Large-cap index on June 26, 2026.