$BMNR · BITMINE IMMERSION TECHNOLOGIES, INC.
Bitmine Immersion Technologies filed an 8-K with a press release disclosing its crypto and cash holdings as of November 1, 2026. Total holdings reached $14.5 billion, comprising 6.06 million ETH (4.9% of total ETH supply), 216 BTC, $498 million in cash & marketable securities, and $262 million in "moonshot" equity stakes. The company has 5.23 million ETH staked ($11.8 billion) and projects $415 million in annualized staking rewards at full scale.
- Total crypto + cash & marketable securities + "moonshots" holdings reached $14.5 billion as of November 1, 2026.
- ETH holdings stand at 6,060,506 tokens, representing 4.9% of the total 122.2 million ETH supply.
- 5,227,037 ETH are staked, valued at $11.8 billion at $2,261 per ETH, with projected annualized staking rewards of $415 million at full scale.
- Total cash & marketable securities are $498 million, plus $82 million stake in Eightco (NASDAQ: ORBS) and $180 million in Beast Industries.
- Chairman Thomas Lee characterized the muted market reaction to the $6.3 billion Binance theft as a sign of crypto industry resilience and an ongoing bull market.
BMNR shares are up 0.69% since filing, trading at $20.32 on an $11.57B market cap. The modest positive move suggests the market had already priced in the company's ETH accumulation strategy, though the disclosure of 4.9% ETH supply ownership and $415M projected annualized staking rewards provides concrete validation of the treasury's scale.
Bitmine has accumulated nearly 5% of all ETH in existence within 15 months, making it the largest ETH treasury globally and the #2 corporate crypto treasury behind only Strategy (MSTR).
Bitmine positions itself as the #1 ETH treasury globally and #2 overall crypto treasury behind Strategy Inc. (MSTR), which holds ~$71B in BTC. The company is 99% toward its "Alchemy of 5%" goal of acquiring 5% of total ETH supply in just 15 months, a pace unmatched by any public company.
The press release highlights extreme ETH price volatility risk, reliance on third-party pricing (Coinbase), staking slashing events, cybersecurity breaches (citing the recent $6.3B Binance theft), and regulatory uncertainty around the GENIUS Act and SEC Project Crypto. The company's concentrated ETH position means a sharp ETH decline would disproportionately impact the $14.5B holdings valuation.