BitMine Immersion Technologies (NYSE: BMNR) Drives ETH Stack to 5.85 Million Tokens, Lifting Crypto and Cash Holdings to $14.9 Billion

 BitMine Immersion Technologies (NYSE: BMNR) announced this morning that it now holds 5,847,611 Ethereum tokens, pushing total crypto, cash and “moonshot” holdings to $14.9 billion. The company bought 32,447 ETH over the past week alone, and it now controls 4.8% of the 120.7 million ETH in circulation — roughly 97% of the way to the 5% ownership target management calls the “Alchemy of 5%.”

Key Points

• 5,847,611 ETH on the balance sheet, valued at a reference price of $2,440 per token
• $14.9 billion in total crypto, cash, marketable securities and moonshot investments
• 5,067,309 ETH staked — 87% of the total stack — worth roughly $12.4 billion
• $308 million in cash and marketable securities, plus 210 Bitcoin
• 32,447 ETH acquired in the past week; BitMine has bought ETH every week since launching its treasury strategy on June 30, 2025
• $330 million in projected annualized staking revenue today, rising to $381 million at full scale
• 4.8% of total ETH supply, or 97% of the way to the company’s 5% goal
• Moonshot positions include $180 million in Beast Industries and $89 million in Eightco Holdings (NASDAQ: ORBS)

ETH Rallies 30%, and Tom Lee Sees a Launch Point

Ether posted its strongest week since May 2025, and BitMine Chairman Thomas “Tom” Lee argues the move matters well beyond a single seven-day window.

“ETH gained 30% in the past week. This is the largest weekly gain since May 2025, prior to that it was July 2021,” Lee said. “In those two precedent instances, this weekly gain of >30% signaled a launch point for a larger move in ETH. In July 2021, ETH subsequently gained +167% and after May 2025, ETH gained +170%.”

Lee tied the rally to fundamentals rather than sentiment alone. “We believe this upside move in ETH was overdue given the strengthening fundamentals in crypto, the multiple tailwinds of Wall Street tokenization, and agentic-AI,” he said. “Moreover, the fact that the White House signaled support for crypto and the Treasury buying long-term bonds supported improved risk appetite.” He added simply: “We expect easing financial conditions to be a tailwind for crypto.”

Looking further out, Lee expects the ETH/BTC ratio to climb. “This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to bitcoin,” he said. “These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains.”

BMNR Stakes 87% of Its Stack and Turns It Into Revenue

Rather than let its treasury sit idle, BitMine puts nearly all of it to work. The company has staked 5,067,309 ETH — 87% of its holdings — through MAVAN, its institutional staking and validation platform, and through partner validators. That staked position alone carries a value near $12.4 billion.

Consequently, the treasury generates real cash flow. BitMine’s own staking operations produced a 7-day yield of 2.67% on an annualized basis, which translates to roughly $330 million in annualized staking revenue today. Once MAVAN and its partners stake the full position, management projects that figure climbing to $381 million annually.

“Bitmine has staked more ETH than other entities in the world,” Lee said.

Weekly Buying Continues Without Interruption

BitMine has never skipped a week. Since kicking off its ETH Treasury Strategy on June 30, 2025 — about 14 months ago — the company has added tokens in every single weekly cycle, including the 32,447 ETH purchased over the past seven days.

Beyond Ethereum, the balance sheet also carries 210 Bitcoin, $308 million in cash and marketable securities, and two early-stage bets: a $180 million position in Beast Industries and an $89 million stake in Eightco Holdings (NASDAQ: ORBS).

Index Inclusion and a Second Listed Security

Investors gained a broader set of ways to access the story over the past year. Russell added BMNR to its Russell 1000 large-cap index on June 26, 2026, and the company’s Series A Preferred Stock trades separately on the NYSE under the ticker BMNP. Today, BitMine ranks as the world’s largest Ethereum treasury and the second-largest crypto treasury company overall.

About BitMine Immersion Technologies (NYSE: BMNR)

BitMine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries, is a blockchain technology infrastructure company operating across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. As the world’s leading Ethereum Treasury company, it implements a digital asset strategy built for institutional investors and public market participants. The company provides institutional-grade staking and validation infrastructure — earning staking rewards and validation income — alongside bitcoin mining activities, and it holds digital assets strategically to generate yield that supports liquidity and capital formation. Since 2025, BitMine has expanded its blockchain infrastructure capabilities, including developing and deploying MAVAN, its institutional staking and validation platform. The company’s activities further include investments in early-stage blockchain opportunities (“moonshot” investments) and ancillary mining, hosting, and consulting services.

Learn more at bitminetech.io or visit the company’s investor relations page.