$BMNR · BITMINE IMMERSION TECHNOLOGIES, INC.

Bitmine Immersion Technologies filed an 8-K with a Regulation FD press release disclosing its crypto treasury and operations update as of October 18, 2026. The company holds 6,041,481 ETH (4.9% of total ETH supply) valued at $14.3B at $2,365/ETH, plus 215 BTC, $582M in cash & marketable securities, and $254M in moonshot investments — totaling $15.1 billion. The company is 99% toward its "Alchemy of 5%" goal of acquiring 5% of all ETH, achieved in just 15 months since launching its ETH Treasury Strategy on June 30, 2025.

BMNR is down 7.28% in the regular session to $21.66, but extended-hours show a +1.99% bounce to $22.09 — suggesting the market is digesting the $15.1B holdings disclosure against the broader crypto/AI selloff cited by Chairman Tom Lee. At a $12.34B market cap, the disclosed holdings imply the stock trades near net asset value.

Bitmine has accumulated nearly 5% of all Ethereum in 15 months, making it the largest ETH treasury on Earth — a corporate crypto strategy unmatched outside of Strategy (MSTR).

Bitmine positions as the #1 ETH treasury globally and #2 overall crypto treasury behind Strategy (MSTR) with its ~$74B BTC position. The MAVAN staking platform expands the model beyond passive holding into institutional-grade yield generation.

Extreme ETH price volatility directly impacts the $14.3B crypto treasury; staking yields may fall short of the projected $369M annualized if full staking isn't achieved. Regulatory risk around the GENIUS Act and SEC Project Crypto could alter the operating landscape.