Bitmine Surpasses $17 Billion in Crypto Holdings as Ethereum Outperforms S&P 500
Bitmine Immersion Technologies (BMNR) has announced its Ethereum holdings have reached 5.98 million tokens, valued at $17.1 billion. This represents a significant milestone for the company, which is 98% of the way to acquiring 5% of the total ETH coin supply.
As of September 20, 2026, Bitmine's crypto holdings include 5,983,940 ETH tokens, valued at $2,688 per token. The company also holds a stake in Beast Industries and Eightco Holdings (NASDAQ: ORBS), as well as total cash and marketable securities worth $714 million.
Bitmine's Chairman, Tom Lee, stated that the company believes a crypto bull market is underway, driven by factors such as the rotation from AI to crypto and strengthening fundamentals. He also noted that Ethereum has outperformed other macro assets in Q3 2026, with a gain of 6,519 basis points over the S&P 500.
Lee will deliver the keynote at Korea Blockchain Week 2026 on September 30, where he is expected to discuss Bitmine's strategy and vision for the future. The company's stock has traded an average daily dollar volume of $1.2 billion since June 30, 2026, ranking #100 in the US among 5,704 listed stocks.