Bitmine Immersion Technologies reported on October 19 that its combined crypto assets, cash, marketable securities, and strategic investments total $15.1 billion. The company, which trades on the NYSE under the ticker BMNR, holds 6.04 million Ethereum tokens, representing 4.9% of the total Ethereum supply of 122.1 million coins.
Chairman Thomas Lee attributed recent market volatility to a combination of AI funding concerns, geopolitical tensions between the US and Iran, and rising global bond yields. Lee stated that these factors triggered selloffs in AI and semiconductor stocks, which in turn created spillover pressures in crypto markets due to investor de-risking in the US, Korea, and Taiwan. He characterized the current price decline as an attractive risk/reward opportunity, citing crypto's exposure to modernizing financial rails and agentic AI.
As of October 18 at 3:00 pm ET, Bitmine's holdings include 6,041,481 ETH valued at $2,365 per token, 215 Bitcoin, and $582 million in cash and marketable securities. The company also holds a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings, which Lee referred to as "moonshots." Eightco is one of the few publicly listed equities providing indirect exposure to OpenAI.
Bitmine has staked 5,067,309 ETH through its Made in America VAlidator Network (MAVAN), a platform launched earlier in 2026 for institutional staking. At the current price of $2,365 per ETH, these staked assets are valued at $12 billion. Lee noted that if Bitmine's entire ETH holding is staked, projected annualized rewards would reach $369 million based on a 2.58% yield. Current annualized staking revenues stand at $309 million based on the existing staked balance.
The company maintains that it has purchased ETH every week since launching its treasury strategy on June 30, 2025. Lee claimed Bitmine's acquisition track record is unmatched by any other public company. The firm is currently the largest Ethereum treasury globally and ranks as the second-largest digital asset treasury behind Strategy Inc., which reportedly holds approximately $74 billion in Bitcoin.
Bitmine's Series A Preferred Stock trades on the NYSE under the symbol BMNP. The company was added to the Russell 1000 Large-cap index on June 26, 2026. Management stated that the GENIUS Act and the SEC's Project Crypto are as transformational to financial services in 2026 as the 1971 end of the Bretton Woods system. The company cites support from institutional investors including ARK's Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital in its goal to acquire 5% of the total ETH supply.