Bitmine Immersion Technologies ( NYSE : BMNR ) announced that its ETH holdings have increased to over 6 million, with a total holding of $17.2 billion in crypto assets, cash, tradable securities, and “Moonshots”.
As of 3:00 PM on September 27, 2026 (Eastern Time), the company stated that its crypto assets included 6,001,302 units of ETH, valued at $2,698 per unit; 213 bitcoins; a stake in Beast Industries worth $180 million; a stake in Eightco Holdings (NASDAQ : ORBS) worth $115 million; as well as a total of $672 million in cash and tradable securities. Bitmine indicated that its holdings of ETH accounted for 4.9% of the total supply of 122.1 million units of ETH.
Bitmine Chairman Thomas “Tom” Lee indicates that: “The total holding of Bitmine at ETH has now exceeded 6 million coins. To achieve this scale in less than 15 months is a tremendous accomplishment. We have already seen the synergies and positive network effects formed around nearly 5% of the total supply of ETH.”
Lee also indicates that the company believes that since the beginning of the crypto bull market at the end of June, institutional investors' allocation to crypto assets has remained low, and it is expected that they will increase their exposure over the remainder of 2026. He said that as of now, ETH has outperformed other macro asset classes by 6,728 basis points in the third quarter.
Lee will deliver a keynote speech at the 2026 Korea Blockchain Week to be held on September 30th at 11:20 (Korean time) in Seoul at Walkerhill Hotels & Resorts. This 25-minute speech is part of the Korea Blockchain Week, which is one of the leading blockchain and digital assets conferences in Asia.
Lee indicates that the company purchased 17,362 units of ETH last week. Bitmine states that since the launch of the ETH treasury strategy on June 30, 2025, the company has been purchasing ETH every week.
The company also mentioned that at the beginning of 2026, they launched MAVAN (which includes Made, in, and America VAlidator Network). This is a staking platform aimed at institutional investors and was initially used to support Bitmine's own Ethereum treasury. Today, its scope has expanded to include institutional investors, custodian institutions, and ecosystem partners. Bitmine stated that some of their ETH have already been staked on the MAVAN platform.
As of September 27, 2026, Bitmine has pledged a total of 5,067,309 ETH, which is valued at $13.7 billion at a price of $2,698 per coin. Lee states: "Bitmine has pledged more ETH than any other institution in the world." He also mentioned that in a large-scale scenario, if all of Bitmine's ETH were pledged by MAVAN and its pledging partners, and based on a 7-day BMNR yield rate of 2.62%, the annualized ETH pledge rewards are expected to reach $424 million.
Lee added that the current estimated annualized pledge income is $358 million, and these 5.1 million ETH represent 84% of the 6 million ETH held by Bitmine. He also stated that the 7-day yield rate for Bitmine's own pledge business is 2.62% (annualized).
According to Bitmine, its stock is one of the most actively traded stocks in the United States. Based on data from Fundstrat, as of September 25, 2026, the average daily trading volume for this stock over the past 5 trading days was 1.1 billion US dollars, ranking it 94th among the 704 listed stocks in the US, between Twilio Inc (93rd) and Philip Morris International (95th).
The company stated that its holdings of encrypted assets rank first in Ethereum reserves and second globally, only behind Strategy Inc. The latter is reported to hold 845,080 bitcoins, valued at approximately $75 billion. Bitmine claims to remain the world's largest ETH treasury company.
Management believes that GENIUS Act and the actions taken by the U.S. Securities and Exchange Commission (SEC) in Project Crypto will have a profound impact on the financial services industry in 2026, on a par with the event on August 15, 1971, when the United States ended the Bretton Woods system and decoupled the dollar from the gold standard. The company states that this event in 1971 spurred the modernization of Wall Street and gave rise to a number of large financial institutions as well as the financial and payment infrastructure we see today.
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE : BMNR) and its subsidiaries are a blockchain technology infrastructure company, with business covering institutional staking and digital asset verification, Bitcoin mining, as well as digital asset strategic management. As a globally leading Ethereum treasury company, Bitmine implements innovative digital asset strategies for institutional investors and public market participants. The company provides institutional-level staking and verification infrastructure to earn staking rewards and verification income, while also engaging in Bitcoin mining operations. Bitmine also strategically holds digital assets and generates earnings from these holdings to support liquidity and capital formation. Since 2025, the company has continuously expanded its blockchain infrastructure capabilities, including developing and launching the MAVAN platform for institutional staking and verification. The company's other activities also include investing in early-stage blockchain projects through "Moonshot", as well as providing supporting services such as mining, hosting, and consulting.
Forward-looking Statements
This press release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not purely historical in nature and can typically be identified by words such as “expect”, “predict”, “intend”, “plan”, “believe”, “anticipate”, “estimate”, “seek”, “target”, “may”, “will”, “could”, “should”, “opinion”, “view”, “expect”, and their negative forms, or similar expressions.This press release particularly contains the following forward-looking statements: The company's "5% of the Total ETH Supply" initiative, known as the "Alchemy of 5%" plan, and the statement that the company has completed 98% of this plan within 15 months; the company's strategy for establishing digital asset portfolios and managing treasury holdings, which includes continuous weekly purchases of ETH since the launch of the ETH treasury strategy on June 30, 2025; the company's status as the largest holder of ETH in the world; the company's staking activities, which are expected to generate an annualized staking income of approximately $424 million under full scale (assuming that all of Bitmine's ETH is staked by MAVAN and its staking partners at a 7-day BMNR yield of 2.62%), with current estimated annualized staking income of about $358 million; the expansion of MAVAN to institutional investors, custodians, and ecosystem partners seeking top-tier staking infrastructure, as well as the company's goal of becoming the leading Ethereum staking platform for BMNR and institutional investors; the statement that ETH has performed as the strongest macro asset so far in the third quarter of 2026, outperforming the S&P 500 index by 6,728 basis points; management believes that institutional investors' allocation to crypto assets is still low and expects them to increase their exposure to crypto in the last few months of 2026; management believes that a crypto bull market is underway, which began at the end of June; management believes that GENIUS Act and SEC's Project Crypto will have a transformative impact on the financial services industry in 2026 equivalent to that of the end of the Bretton Woods system in 1971, and that related investments will outperform gold; the company's investment in Eightco Holdings provides investors with an indirect exposure to OpenAI, as well as the company's holding of $180 million worth of shares in Beast Industries; and the company's crypto assets.The value of cash, tradable securities, and positions held by “Moonshot”, including a total of 17.2 billion US dollars, as well as the statement that ETH holdings account for 4.9% of the total supply.
These forward-looking statements involve significant risks and uncertainties, which may lead to material differences between actual results and the results expressed or implied therein.Factors that may lead to differences include, but are not limited to: the extreme volatility and unpredictability of digital asset prices (including ETH and Bitcoin), as well as the speculative nature of investing in digital assets; historical ETH price trends and their performance relative to other macro assets may not repeat themselves, and may not necessarily serve as a reference for future performance; the company relies on third-party price sources (including Coinbase) and reported market values when calculating the value of its crypto assets, cash, tradable securities, and “Moonshot” investment positions, and these values may fluctuate significantly after the dates and times mentioned in this press release; changes in market conditions may affect the trading prices and volumes of the company's common stock and Class A preferred stock, and there is a risk that inclusion in the Russell 1000 index may not bring the expected returns; the company's ability to successfully execute its digital asset acquisition strategy, continue to make weekly purchases of ETH, and achieve the ETH acquisition targets (including the “Alchemy of 5%” target); the company's ability to fund business operations, Ethereum treasury activities, and MAVAN expansion; operational, security, and technical risks related to the company's staking and verification activities, including network disruptions, penalty events, cybersecurity vulnerabilities, and protocol changes; actual staking participation, rewards, and income may differ significantly from the forecast values mentioned in this press release, which are based on a 7-day yield rate and assume that ETH will be staked at a large scale; competition in the fields of digital assets, staking, and mining; the company's dependence on key personnel (including management); regulatory developments affecting digital assets, blockchain technology, and staking activities in the United States and globally, including the final adoption, implementation, and interpretation of GENIUS Act, as well as other pending legislative and regulatory measures; actions by SEC, CFTC, and other regulatory authorities regarding digital assets and related businesses; and risks associated with the company's “Moonshot” investments in early-stage blockchain projects.Including investments in Eightco Holdings (including the nature and extent of any indirect exposure to OpenAI) as well as investments in Beast Industries; macroeconomic factors such as inflation, interest rates, Federal Reserve monetary policy, employment market conditions, war risks, rising yields, and the overall economic environment that affects investors' sentiment towards digital assets; the unpredictability of the crypto market cycles and the accuracy of management's expectations regarding the level of participation from institutional investors; changes to the Ethereum protocol, including staking mechanisms, validator requirements, and reward structures; the performance of third parties, exchanges, custodian institutions, and staking partners; the risks associated with the high concentration of the company's assets in digital currencies, particularly Ethereum; as well as other risk factors described in the documents submitted by the company to SEC.
The forward-looking statements in this press release are based on information available to management at the time of issuance and reflect management’s current expectations, estimates, projections, judgments, and beliefs regarding future events and circumstances. Due to various factors, including those mentioned above as well as those described in the “Risk Factors” section of the company’s 10-K annual report for the fiscal year ending September 30, 2025, the 10-Q quarterly report, and other filings submitted to SEC on November 21, 2025, actual results may differ significantly from those expressed or implied in the forward-looking statements. The relevant documents can be found on the SEC website at www.sec.gov and on the company’s website at https :// Bitminetech.io / investor-relations. The company reminds readers not to rely excessively on forward-looking statements that are only valid at the time of issuance. Except as required by applicable laws or regulations, Bitmine explicitly does not assume any obligation or commitment to update, revise, or supplement any forward-looking statements to reflect expected changes or changes in relevant events, conditions, or circumstances.
