Key Takeaways
- • Bitmine Immersion Technologies (NYSE: BMNR) reported crypto, cash and marketable securities holdings totaling $15.1 billion as of October 18, 2026 at 3:00pm ET, including 6,041,481 ETH valued at $2,365 per ETH.
- • Bitmine's ETH position represents 4.9% of the 122.1 million ETH supply, and the company says it is 99% of the way to its goal of acquiring 5% of ETH.
- • Total cash and marketable securities stand at $582 million, alongside 215 BTC, a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings (NASDAQ: ORBS), which provides indirect OpenAI exposure.
- • Bitmine reports 5,067,309 staked ETH (about $12 billion), with projected annualized staking rewards of $369 million at full staking through its MAVAN platform.
- • Chairman Thomas "Tom" Lee attributed recent crypto weakness to AI-stock selloffs, US-Iran hostilities, US midterm uncertainty and rising global bond yields, and argued the decline presents attractive risk/reward.
Summary
Bitmine Immersion Technologies announced on October 19, 2026 that its combined crypto, cash and marketable securities holdings, including "moonshot" investments, total $15.1 billion. According to the company's press release, the holdings include 6,041,481 ETH valued at $2,365 per ETH as of October 18, 2026, 215 Bitcoin, $582 million in total cash and marketable securities, a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings. Bitmine said its ETH position equals 4.9% of the 122.1 million ETH supply and that it acquired 12,535 ETH over the past week.
Chairman Thomas "Tom" Lee linked recent market weakness to a deterioration in investor risk appetite driven by concerns over AI funding and AI model safety, escalating US-Iran conflict, anxiety ahead of the US midterm elections and rising global bond yields. Lee said these pressures had triggered selloffs in AI-linked semiconductor and memory stocks and in the Korean and Taiwanese markets, which he noted are dominated by those sectors. He argued that crypto's broad holder base in those regions produces spillover selling, and that declines in markets with resilient fundamentals have historically offered attractive entry points. The company also reiterated its expectation of a coming crypto bull market, which it released in a Chairman's Message on October 7, 2026 titled "Crypto Bull Underway — This Cycle Likely the Largest."
On staking, Bitmine reported 5,067,309 staked ETH, valued at approximately $12 billion, through its MAVAN (Made in America VAlidator Network) platform, which the company launched earlier in 2026 and has expanded to serve institutional investors and custodians. Bitmine projected annualized staking rewards of $369 million if its full ETH holdings were staked, using a 2.58% seven-day BMNR yield, compared with projected annualized staking revenue of $309 million on the currently staked 5.1 million ETH. These figures are management projections subject to the risks outlined in the company's forward-looking statements.
Bitmine said it is the largest Ethereum treasury company and the second-largest global crypto treasury behind Strategy Inc., which reportedly holds 848,250 BTC valued at roughly $74 billion. The company also noted that its Series A Preferred Stock trades on the NYSE under BMNP and that it was added to the Russell 1000 index on June 26, 2026. Strategic backers cited in the release include ARK's Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG and Galaxy Digital.
Chairman Thomas "Tom" Lee linked recent market weakness to a deterioration in investor risk appetite driven by concerns over AI funding and AI model safety, escalating US-Iran conflict, anxiety ahead of the US midterm elections and rising global bond yields. Lee said these pressures had triggered selloffs in AI-linked semiconductor and memory stocks and in the Korean and Taiwanese markets, which he noted are dominated by those sectors. He argued that crypto's broad holder base in those regions produces spillover selling, and that declines in markets with resilient fundamentals have historically offered attractive entry points. The company also reiterated its expectation of a coming crypto bull market, which it released in a Chairman's Message on October 7, 2026 titled "Crypto Bull Underway — This Cycle Likely the Largest."
On staking, Bitmine reported 5,067,309 staked ETH, valued at approximately $12 billion, through its MAVAN (Made in America VAlidator Network) platform, which the company launched earlier in 2026 and has expanded to serve institutional investors and custodians. Bitmine projected annualized staking rewards of $369 million if its full ETH holdings were staked, using a 2.58% seven-day BMNR yield, compared with projected annualized staking revenue of $309 million on the currently staked 5.1 million ETH. These figures are management projections subject to the risks outlined in the company's forward-looking statements.
Bitmine said it is the largest Ethereum treasury company and the second-largest global crypto treasury behind Strategy Inc., which reportedly holds 848,250 BTC valued at roughly $74 billion. The company also noted that its Series A Preferred Stock trades on the NYSE under BMNP and that it was added to the Russell 1000 index on June 26, 2026. Strategic backers cited in the release include ARK's Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG and Galaxy Digital.
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