Bitmine Immersion Technologies ( NYSE : BMNR ) indicates that as of October 4th, the total value of its cryptocurrencies, cash, tradable securities, and the so-called “Moonshots” reached 17.4 billion US dollars.
The company stated that as of 18:30 Eastern Time on October 4th, its crypto assets included 6,016,414 units of ETH, valued at $2,726 per unit; 214 bitcoins (BTC); holdings in Beast Industries worth $180 million; holdings in Eightco Holdings (NASDAQ : ORBS) worth $117 million; as well as a total of $643 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 stated that Tom indicates that the company believes cryptocurrencies are entering a cycle that it considers to be a bull market. He also mentioned that during the bear market from 2025 to 2026, Bitmine will perform relatively better than ETH: in the first nine months of 2026, ETH will fall by 10%, while BMNR's stock price will only fall by 3%, which is equivalent to an excess performance of 731 basis points.
Lee also indicates that the company has taken multiple measures to optimize shareholder returns, including implementing 'the largest stock repurchase in the crypto sector to date', with 21 million shares repurchased in 2026 alone.
According to Lee, considering the multiple macroeconomic headwinds that have emerged this quarter, including a "hawkish" Federal Reserve, rising oil prices, increasing global bond yields, and an overall tightening of the financial environment, ETH's performance in the third quarter of 2026 relative to the S&P 500 index has been "noteworthy." He stated that since the beginning of this quarter, ETH's outperformance relative to the S&P 500 index has reached 6,832 basis points.
The company stated that Tom Lee will also deliver a keynote speech at the Token2049 conference to be held at Marina Bay Sands in Singapore on October 7th at 10 a.m. This event is described as one of the largest cryptocurrency conferences in the world.
Lee indicates that the company purchased another 15,112 units of ETH last week, and stated that since the launch of the ETH treasury strategy on June 30, 2025, Bitmine has been buying ETH every week.
Bitmine also indicates that the chairman's latest speech for October 2026 will be released this week, with the title being Krypto-Hausse im Gange – dieser Zyklus dü rfte der gr öß te sein.
The company stated that it launched MAVAN ( Made in America VAlidator Network) at the beginning of 2026. This is a collateral platform aimed at institutional investors, initially used to support Bitmine's own Ethereum treasury, and has now been extended to include institutional investors, custodian institutions, and ecosystem partners. The company mentioned that a portion of Bitmine's ETH has already been pledged on the MAVAN platform.
As of October 4th, Bitmine claimed to have pledged a total of 5,067,309 ETH, which is valued at $13.8 billion at a price of $2,726 per coin. Lee stated that the quantity of ETH pledged by Bitmine exceeds that of any other institution globally; if all of Bitmine's ETH are pledged through MAVAN and its partnership partners upon full expansion, the expected annualized ETH pledge yield would reach $431 million, based on a 7-day yield of 2.63% for BMNR.
Lee also indicates that the current annualized pledge income is estimated to be 363 million US dollars, and these 5.1 million ETH are equivalent to 84% of the 6.02 million ETH held by Bitmine. He added that the 7-day yield rate for Bitmine's own pledge business is 2.63% (annualized).
Bitmine indicates that its stock is one of the most actively traded stocks in the United States. Fundstrat data shows that as of October 2nd, the average daily trading volume for this stock over the past 5 trading days was 827 million US dollars, ranking it 125th among 5,704 stocks listed in the US, situated after Bristol and Myers Squibb Co, and before Schlumberger NV.
The company claims that its scale of encrypted assets ranks first among Ethereum wallets and second globally, only behind Strategy Inc. ( NASDAQ : MSTR ), which is reported to hold 847,666 BTC, worth approximately $78 billion. Bitmine indicates that it remains the largest ETH wallet in the world.
Management believes that GENIUS Act and the Project Crypto of the U.S. Securities and Exchange Commission (SEC) 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 today's financial and payment infrastructure.
Bitmine also provided in the press release the speech of its chairman, a performance presentation for the fiscal year 2025, and a link to the investor relations page. It included a disclaimer regarding forward-looking statements, listing risks that could affect actual results such as fluctuations in digital asset prices, regulatory changes, risks associated with staking and mining, macroeconomic factors, and investments in Moonshot.
The company profile section states that Bitmine Immersion Technologies and its subsidiaries are blockchain technology infrastructure companies, with business covering institutional staking and digital asset verification, Bitcoin mining, as well as strategic management of digital assets. The company claims to be a global leading Ethereum treasury company, providing digital asset strategies for institutional investors and public market participants. It earns rewards and verification income through staking and verification infrastructure, and also engages in Bitcoin mining, early-stage blockchain project investment, as well as related custody, mining, and consulting services.
