Key Takeaways
- • Bitmine Immersion Technologies (NYSE: BMNR) reported holdings of 6,028,946 ETH as of October 11, 2026, at $2,544 per ETH, representing 4.9% of the 122.1 million ETH supply, according to a PRNewswire release dated October 12, 2026.
- • Total crypto, cash and marketable securities and "moonshot" holdings reached $16.2 billion, including $612 million in cash and marketable securities, a $180 million stake in Beast Industries and an $85 million stake in Eightco Holdings (NASDAQ: ORBS).
- • Bitmine reported 5,067,309 staked ETH worth $12.9 billion and said its MAVAN staking platform is open to institutional investors, custodians and ecosystem partners.
- • Chairman Thomas "Tom" Lee said Bitmine is 99% of the way to its 5% ETH supply target and cited the company's Series A Preferred (BMNP) yield of 9.56% as a benchmark for ETH credit.
Summary
Bitmine Immersion Technologies announced on October 12, 2026 that its ETH holdings reached 6,028,946 tokens as of October 11, 2026 at 1:30pm ET, valued at $2,544 per ETH per Coinbase data. The company said these holdings equal 4.9% of the 122.1 million ETH supply and that it is 99% of the way to its stated goal of owning 5% of ETH within roughly 15 months. Total crypto, cash and marketable securities and moonshot holdings were reported at $16.2 billion. The disclosed components included 214 Bitcoin, a $180 million stake in Beast Industries, an $85 million stake in Eightco Holdings (ORBS), and $612 million in cash and marketable securities. The company said it acquired 12,532 ETH over the prior week and has bought ETH every week since its ETH treasury strategy began on June 30, 2025.
Bitmine reported 5,067,309 staked ETH, valued at $12.9 billion, and highlighted its MAVAN (Made in America VAlidator Network) staking platform, which it launched earlier in 2026 and has expanded to serve institutional investors and custodians. Management projected annualized staking rewards of $400 million at full staking, using a 2.61% seven-day BMNR yield, compared with $336 million based on currently staked ETH.
Lee's release also referenced the Series A 9.5% Perpetual Preferred stock (NYSE: BMNP), issued in June 2026 at $80 and last closing at $99.53, which the company said has a 9.56% yield. Lee described this as 256 basis points below comparable Bitcoin credit yield and 515 basis points below comparable Solana yield. The company cited Chairman's message released October 7, 2026, titled "Crypto Bull Underway — This Cycle Likely the Largest," and cited a projected $1.5 trillion to $2.0 trillion wealth transfer over 2026-2028 based on IRS and Fundstrat data. These forward-looking statements are management projections and have not been independently verified. Bitmine is also reported to be the largest ETH treasury and the second-largest crypto treasury globally, behind Strategy Inc., per the release.
Bitmine reported 5,067,309 staked ETH, valued at $12.9 billion, and highlighted its MAVAN (Made in America VAlidator Network) staking platform, which it launched earlier in 2026 and has expanded to serve institutional investors and custodians. Management projected annualized staking rewards of $400 million at full staking, using a 2.61% seven-day BMNR yield, compared with $336 million based on currently staked ETH.
Lee's release also referenced the Series A 9.5% Perpetual Preferred stock (NYSE: BMNP), issued in June 2026 at $80 and last closing at $99.53, which the company said has a 9.56% yield. Lee described this as 256 basis points below comparable Bitcoin credit yield and 515 basis points below comparable Solana yield. The company cited Chairman's message released October 7, 2026, titled "Crypto Bull Underway — This Cycle Likely the Largest," and cited a projected $1.5 trillion to $2.0 trillion wealth transfer over 2026-2028 based on IRS and Fundstrat data. These forward-looking statements are management projections and have not been independently verified. Bitmine is also reported to be the largest ETH treasury and the second-largest crypto treasury globally, behind Strategy Inc., per the release.
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