Bitmine Immersion Technologies, Inc. ( NYSE : BMNR ) stated on the 28th that as of October 25, 2026, the total value of its crypto assets, cash, tradable securities, and “Moonshots” amounted to 15 billion US dollars.
As of 2:00 p.m. Eastern Time on October 25, 2026, the company stated that its crypto assets included 6,051,933 units of ETH, valued at $2,356 per unit according to the Coinbase pricing; 215 bitcoins (BTC); a stake in Beast Industries worth $180 million; a stake in Eightco Holdings (NASDAQ : ORBS) worth $76 million; and a total of $514 million in cash and tradable securities. Bitmine indicated that its holdings of ETH equivalent to 4.95% of Ethereum's total supply of 122.2 million ETH.
Bitmine Chairman Thomas " Tom " Lee indicates that cryptocurrencies are affected by the same risk aversion sentiment as the sell-off in AI stocks, but compared to the end of 2025 and the beginning of 2026, the pullbacks in cryptocurrencies have been relatively mild. He said that ETH has fallen 13% from its recent high, while U.S. semiconductor stocks ($ SOXX ) have declined by 20% during the same period, "We believe that this further proves that the crypto bull market is still in progress."
Lee also stated that Bitmine repurchased 2.04 million shares last week at an average repurchase price of $22.48 per share. If management believes that the stock of Bitmine is relatively undervalued, the company intends to continue repurchasing shares as market conditions permit and within the scope of the existing repurchase authorization. "Enhancing shareholder value is always our top priority," he said.
According to Lee, as of 2026, Bitmine has repurchased 22.9 million common shares at an average repurchase price of $17.48, for a total amount of $399.6 million. "This is the largest stock repurchase in the history of the crypto treasury company, reflecting our commitment to our shareholders," he said.
He also stated that the company believes it has the capability to outperform the expected crypto bull market, as it has strengthened its competitive position during the crypto winter over the past year. "Last week, we purchased another 10,452 ETH. Bitmine's consistent and stable buying of cryptocurrencies is unmatched among publicly listed companies worldwide. Since launching the ETH treasury strategy on June 30, 2025, Bitmine has been continuously buying ETH every week," said Lee.
Bitmine released the latest chairman information on October 7th, with the title " Crypto Bull Underway — This Cycle Likely the Largest " (The crypto bull market is in progress – this cycle could be the largest yet). Relevant presentation materials can be found on the company's website.
The company stated that at the beginning of 2026, it launched MAVAN (which includes Made, in, and America VAlidator Network), a collateralization platform aimed at institutional investors. MAVAN was initially developed to support Bitmine's own Ethereum treasury, but has now been extended to serve institutional investors, custodian institutions, and ecosystem partners, providing institutional-level collateralization infrastructure. A portion of ETH from Bitmine has already been collateralized on the MAVAN platform.
As of October 25, 2026, the total number of ETH tokens pledged by Bitmine is 5,227,037, which is valued at $1.23 billion at a price of $2,356 per token. Lee indicates that the quantity of ETH tokens pledged by Bitmine exceeds that of any other institution globally. If all deployed ETH held by Bitmine are pledged through MAVAN and its pledging partners, the annual pledged rewards are expected to reach $368 million, calculated at a 7-day BMNR yield rate of 2.58%; based on the current approximately 5.2 million pledged ETH tokens (which account for 86% of the 6.05 million ETH held by the company), the annualized pledged income is about $318 million.
Lee indicates that, based on the holding scale of encrypted assets, Bitmine ranks first among global Ethereum treasury companies and second among all treasury companies, only behind Strategy Inc. The latter is reported to hold 848,517 BTC, worth approximately 74 billion US dollars. Bitmine remains the largest ETH treasury in the world.
Management believes that GENIUS Act and the Project Crypto of the U.S. Securities and Exchange Commission ( SEC ) will have a transformative impact on the financial services industry in 2026, similar to how the United States ended the Bretton Woods system on August 15, 1971, and decoupled the dollar from the gold standard. The company states that this event in 1971 propelled the modernization of Wall Street and gave rise to today's financial and payment infrastructure.
Bitmine also provided information about the chairman, a performance demonstration for the fiscal year 2025, and a link to the investor relations page in the announcement, and reminded investors to follow their X account.
Bitmine Immersion Technologies and its subsidiaries are blockchain technology infrastructure companies, with businesses including institutional staking and digital asset verification, Bitcoin mining, as well as strategic management of digital assets. The company states that, as a global leader in Ethereum treasury services, it implements innovative digital asset strategies for institutional investors and public market participants. It earns staking rewards and verification income through its staking and verification infrastructure, while also conducting Bitcoin mining operations. The company also generates revenue by investing in early-stage blockchain projects ("Moonshot investments") as well as through supplementary services such as mining, hosting, and consulting.
The following is the company's risk warning regarding forward-looking statements: This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, which involve targets for holding ETH of “Alchemy of 5%”, continuous weekly purchases of ETH, a stock repurchase plan, forecasts on pledge earnings, MAVAN expansion, judgments on the crypto market environment, the impact on GENIUS Act and SEC Project Crypto, as well as the value of the company's crypto assets, cash, tradable securities, and “Moonshot” holdings. The company acknowledges that these statements carry significant risks and uncertainties, and actual results may differ substantially from expectations. Relevant risks include fluctuations in digital asset prices, changes in market conditions, uncertainties regarding the timing and scale of repurchases, risks associated with pledging and verification operations, regulatory changes, competition, dependence on key personnel, macroeconomic factors, and the performance of third-party service providers, among others. The company also states that, except as required by law, it has no obligation to update or revise these forward-looking statements.
