Bitmine Immersion Technologies Reports 6 Million ETH Holdings and Predicts Major Crypto Bull Market

Bitmine Immersion Technologies, Inc. has revealed that its Ethereum (ETH) holdings have reached 6,028,946 tokens, accounting for approximately 4.9% of the total ETH supply. This announcement comes as the company forecasts a significant upcoming crypto bull market, driven by factors such as tokenization, generational wealth transfers, and increased demand linked to artificial intelligence.

As of October 11, 2026, Bitmine's total assets, including cash and marketable securities, amount to $16.2 billion. This includes 214 Bitcoin (BTC), $612 million in cash, a $180 million stake in Beast Industries, and an $85 million stake in Eightco Holdings. The company has consistently purchased ETH weekly since launching its treasury strategy in June 2025, with the latest acquisition of 12,532 ETH bringing it closer to its goal of accumulating 5% of the total supply.

Chairman Tom Lee emphasized that the wealth transfer from older generations to younger investors is expected to significantly impact the crypto market, as these younger investors are likely to have a higher risk appetite for cryptocurrencies. He also noted that digital asset treasury companies are absorbing a larger share of the crypto supply, which could support the upcoming bull cycle.

Bitmine is also expanding its staking operations through its Made in America Validator Network (MAVAN), which now serves institutional investors and ecosystem partners. As of the latest report, approximately 5.07 million ETH, or 84% of Bitmine's holdings, have been staked, with projected annualized staking revenues of $336 million. If the entire treasury were staked, this figure could rise to approximately $400 million.

Lee pointed out that Bitmine's perpetual preferred stock, BMNP, has gained 24% since its issuance, reflecting the company's strong performance compared to other assets during the recent bear market.

New Facts from Bitmine Immersion Technologies

• BitMine increased its Ethereum treasury to 6,028,946 ETH, valued at approximately $15.3 billion.
• The company now holds 4.9% of Ethereum's total supply of 122.1 million tokens.
• 84% of its ETH balance (5,067,309 ETH) is staked through its MAVAN platform and partners.
• BitMine projects an annualized staking revenue of $336 million, potentially reaching $400 million once all holdings are staked.
• In addition to Ethereum, BitMine holds 214 Bitcoin and a $180 million stake in Beast Industries.
• Tom Lee announced that BitMine will halt ETH purchases once it reaches 5% of the circulating supply.
• Ethereum outperformed the S&P 500 by 6,832 basis points in Q3 2026, despite macroeconomic challenges.
• In the first nine months of 2026, ETH declined by 10%, while Bitmine's share price (BMNR) was down only 3%, indicating a 731 basis point outperformance.