Bitmine Reports $15 Billion in Holdings and Owns 4.95% of Ether Supply

Key Facts

Bitmine Immersion Technologies said its total holdings of cryptocurrencies, cash, marketable securities and “moonshot” investments reached $15 billion as of Oct. 25, 2026. The company, listed on the New York Stock Exchange under the ticker BMNR, describes itself as focused on ether treasury operations and validation and staking services, alongside bitcoin mining and digital asset management. These figures distinguish the company from Bitmain, which the initial report identified as a maker of mining equipment. The $15 billion figure also does not represent cash and cryptocurrencies alone, as it includes other investments in the total. Cash and marketable securities totaled $514 million, according to the company’s statement published on Oct. 26.

Ether was the largest disclosed holding, at 6,051,933 units, which the company valued at $2,356 per unit as of 2:00 p.m. Eastern time on Oct. 25. The holdings also included 215 bitcoin, a $180 million stake in Beast Industries and a $76 million investment in Eightco Holdings. Cash and marketable securities totaled $514 million, the liquid portion specified in the statement. In its previous update, published on Oct. 19, the company reported holdings of 6.04 million ether and total assets of $15.1 billion across the same categories. That week’s disclosure also listed 215 bitcoin, a $180 million stake in Beast Industries, $74 million in Eightco Holdings and $582 million in cash and marketable securities.

Bitmine said its ether holdings equaled 4.95% of the 122.2 million-unit supply, bringing it close to the company’s stated goal of owning 5% of the supply. Chairman Tom Lee added that the company bought 10,452 ether in the week before the announcement. He said Bitmine had continued buying ether every week since launching its ether treasury strategy on June 30, 2025. In the previous disclosure, the company said it bought 12,535 ether in the week ending before Oct. 19, reiterating that it had bought weekly since the strategy began. The comparison shows that disclosed purchases in the latest update fell from the previous week, while reported ether holdings rose from 6.04 million to 6,051,933 units.

The company said 5,227,037 ether of its holdings had been staked, which it valued at $12.3 billion using an ether price of $2,356. The staked amount represents about 86% of its total holdings of 6.05 million ether, according to the company’s calculation published on Oct. 26. Bitmine estimated its current annualized staking revenue at $318 million, based on 5.2 million ether staked. Its estimate of annual rewards if all holdings were staked was $368 million, calculated using BMNR’s seven-day yield of 2.58%. In its Oct. 19 update, the company had estimated annual revenue of $309 million from 5.1 million staked ether and rewards of $369 million if all holdings were staked, based on the same yield. Bitmine described its MAVAN platform as dedicated to institutional staking and validation services.

Bitmine is buying back shares alongside its ether accumulation, saying it repurchased 2.04 million shares in the previous week at an average of $22.48 per share. It said the repurchases are subject to market conditions and the existing authorization. From the start of 2026 through Oct. 26, the company repurchased 22.9 million shares at an average of $17.48 per share, for a total of $399.6 million. These figures put the week’s buyback activity in the broader context of the company’s purchases since the start of the year. The statement did not give a share price at the time of the announcement, citing only the average weekly purchase price and the year-to-date total.

Commenting on the market, Lee said cryptocurrencies had been affected by “risk-off” forces that he linked to a selloff in artificial intelligence stocks. He added that ether had fallen 13% from its recent peak, while U.S. semiconductor stocks, represented by the SOXX index, had dropped 20% over the same period. These comparisons and explanations were provided by the company’s chairman in its statement and are not independent measures of market moves. In its Oct. 19 disclosure, Lee had attributed weaker investor risk appetite to concerns about AI financing and model safety, rising U.S.-Iran military activity, anxiety ahead of the U.S. midterm elections and higher global bond yields. The current update did not specify a date for a subsequent disclosure or announce a next step.