$BMNR · BITMINE IMMERSION TECHNOLOGIES, INC.
Bitmine Immersion Technologies filed an 8-K with a Regulation FD press release disclosing its crypto and cash holdings as of October 11, 2026. The company holds 6,028,946 ETH (4.9% of the 122.1M total ETH supply) valued at $2,544 per ETH, plus 214 BTC, $612M in cash & marketable securities, and $265M in "moonshot" investments (Eightco and Beast Industries), totaling $16.2 billion. The company is 99% of the way to its "Alchemy of 5%" ETH accumulation target, achieved in just 15 months.
- ETH holdings reached 6,028,946 tokens, representing 4.9% of the total 122.1 million ETH supply.
- Total crypto + cash & marketable securities + 'moonshots' holdings valued at $16.2 billion as of October 11, 2026.
- 5,067,309 ETH staked ($12.9B at $2,544/ETH); projected annualized staking rewards of $400M at full scale.
- BMNR outperformed ETH by 731bp in the first 9 months of 2026 (ETH -10% vs BMNR -3%).
- Company acquired 12,532 ETH in the past week and has bought ETH every week since June 30, 2025.
Extended-hours trading shows BMNR at $23.67, down 0.67% from the regular close and 1.50% below the filing-time price of $24.03, suggesting a modestly negative initial reaction despite the bullish operational update. The $13.57B market cap sits below the disclosed $16.2B total holdings figure.
Bitmine is now the largest ETH treasury in the world and the #2 global crypto treasury behind only Strategy (MSTR), with a disclosed $16.2B in holdings against a $13.57B market cap — a rare discount.
Bitmine positions itself as the #1 ETH treasury globally and #2 overall crypto treasury behind Strategy Inc. (MSTR, ~$77B in BTC). The press release frames ETH credit as superior to Bitcoin and Solana credit, with BMNP's 9.56% yield 256bp below comparable BTC credit (STRC) and 515bp below Solana (CH
Extreme concentration risk: nearly all holdings are in ETH, with forward-looking statements explicitly warning that crypto markets may not enter a bull market or that any bull market may be shorter or smaller than anticipated. Staking yield projections are based on a 7-day trailing yield that may be
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