Bitmine Immersion Technologies ($BMNR), the NYSE-listed Ethereum treasury firm, now holds more than 6 million Ether ($ETH). The company disclosed holdings of 6,041,481 Ether tokens as of Oct.
Bitmine Immersion Technologies ($BMNR), the NYSE-listed Ethereum treasury firm, now holds more than 6 million Ether ($ETH). The company disclosed holdings of 6,041,481 Ether tokens as of Oct. 18, 2026, representing 4.9% of the total ETH supply of 122.1 million tokens, according to a company press release.
Bitmine said its crypto, total cash, marketable securities and strategic investments totaled $15.1 billion.
Bitmine announced it acquired an additional 12,535 ETH over the past week.At an Ether price of $2,365, the ETH holdings are valued at about $14.3 billion. The weekly purchase was roughly $30 million at that price.
The portfolio also includes 215 Bitcoin ($BTC), $582 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $74 million stake in another listed holding.
The buying continues a strategy led by Chairman Thomas Lee (@fundstrat). Lee said Bitmine has bought ETH every week since the ETH Treasury Strategy began on June 30, 2025.The company describes itself as 99% of the way to its 'Alchemy of 5%' goal of owning 5% of ETH supply.
Of its total ETH holdings, 5,067,309 tokens are staked through MAVAN, the company's institutional staking platform.That stake is worth about $12 billion at $2,365 per token and represents 84% of total holdings.
MAVAN stands for Made in America VAlidator Network. It was originally developed to support Bitmine's own Ethereum treasury, with plans to expand to serve institutional investors, custodians and ecosystem partners.The company said current annualized staking revenues are approximately $309 million based on 5.1 million staked ETH, and would reach $369 million if its holdings were fully staked.
The scale of the position has drawn scrutiny. Pluang, an investment platform tracking Ethereum treasury companies, said in May 2026 that Bitmine's concentration raises concerns about centralization risks.Lee argues that Bitmine's accumulation and MAVAN's scale are structurally positive for Ethereum.
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