Key Takeaways
- • Bitmine Immersion Technologies (NYSE: BMNR) reported total crypto, cash and marketable securities plus "moonshot" holdings of $15 billion as of October 25, 2026, including 6,051,933 ETH valued at $2,356 per ETH.
- • The company holds 4.95% of the 122.2 million ETH supply and is roughly 99% of the way to its stated goal of acquiring 5% of ETH.
- • Bitmine repurchased 2.04 million shares in the past week at an average price of $22.48 and a cumulative 22.9 million shares in 2026 at an average of $17.48, totaling $399.6 million.
- • Bitmine reports 5,227,037 staked ETH ($12.3 billion) through its MAVAN staking platform, with projected annualized staking rewards of $368 million at full staking scale.
- • Management, citing the relative resilience of crypto versus semiconductors during a recent risk-off selloff, maintains that a crypto bull market is underway.
Summary
Bitmine Immersion Technologies announced on October 26, 2026, via PRNewswire, that its combined crypto, cash, marketable securities and "moonshot" holdings totaled $15 billion as of October 25, 2026 at 2:00pm ET. The holdings comprise 6,051,933 ETH at $2,356 per ETH (pricing per Coinbase), 215 Bitcoin, a $180 million stake in Beast Industries, a $76 million stake in Eightco Holdings (NASDAQ: ORBS), and total cash and marketable securities of $514 million. The company describes its ETH position as 4.95% of the 122.2 million ETH supply, and says it is 99% of the way to its "Alchemy of 5%" goal.
Chairman Thomas "Tom" Lee said crypto had been pulled down by the same risk-off forces behind an AI-related selloff, but that pullbacks have been comparatively shallow. He noted ETH had fallen 13% from its recent peak while U.S. semiconductors (SOXX) were down 20% over the same period, and argued this indicates a crypto bull market is underway. Bitmine said it bought 10,452 ETH over the past week and has added ETH every week since its ETH Treasury Strategy began on June 30, 2025.
On the equity side, Bitmine repurchased 2.04 million common shares in the past week at an average price of $22.48. Year to date, it has repurchased 22.9 million shares at an average of $17.48, an aggregate $399.6 million, which the company describes as the largest crypto treasury company common equity buyback executed to date. Management said repurchases will occur when shares appear undervalued and remain subject to market conditions and the existing authorization.
Bitmine's MAVAN (Made in America VAlidator Network) staking platform, launched earlier in 2026, held 5,227,037 staked ETH as of October 25, valued at $12.3 billion. The company projects annualized staking rewards of $368 million if all its ETH were staked, based on a 2.58% 7-day BMNR yield, compared with annualized staking revenue of $318 million on currently staked ETH. Bitmine also said it is the largest ETH treasury globally and the second-largest crypto treasury overall, behind Strategy Inc., which reportedly holds 848,517 BTC valued at about $74 billion. Bitmine's Series A Preferred Stock trades on the NYSE as BMNP, and the company was added to the Russell 1000 on June 26, 2026. Investors named in the release include ARK's Cathie Wood, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital.
The release contains forward-looking statements, and the company notes that digital asset prices, staking yields and share repurchase timing are subject to material uncertainty. Figures are company-reported and have not been independently verified.
Chairman Thomas "Tom" Lee said crypto had been pulled down by the same risk-off forces behind an AI-related selloff, but that pullbacks have been comparatively shallow. He noted ETH had fallen 13% from its recent peak while U.S. semiconductors (SOXX) were down 20% over the same period, and argued this indicates a crypto bull market is underway. Bitmine said it bought 10,452 ETH over the past week and has added ETH every week since its ETH Treasury Strategy began on June 30, 2025.
On the equity side, Bitmine repurchased 2.04 million common shares in the past week at an average price of $22.48. Year to date, it has repurchased 22.9 million shares at an average of $17.48, an aggregate $399.6 million, which the company describes as the largest crypto treasury company common equity buyback executed to date. Management said repurchases will occur when shares appear undervalued and remain subject to market conditions and the existing authorization.
Bitmine's MAVAN (Made in America VAlidator Network) staking platform, launched earlier in 2026, held 5,227,037 staked ETH as of October 25, valued at $12.3 billion. The company projects annualized staking rewards of $368 million if all its ETH were staked, based on a 2.58% 7-day BMNR yield, compared with annualized staking revenue of $318 million on currently staked ETH. Bitmine also said it is the largest ETH treasury globally and the second-largest crypto treasury overall, behind Strategy Inc., which reportedly holds 848,517 BTC valued at about $74 billion. Bitmine's Series A Preferred Stock trades on the NYSE as BMNP, and the company was added to the Russell 1000 on June 26, 2026. Investors named in the release include ARK's Cathie Wood, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital.
The release contains forward-looking statements, and the company notes that digital asset prices, staking yields and share repurchase timing are subject to material uncertainty. Figures are company-reported and have not been independently verified.
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