Bitmine Immersion Technologies ( BMNR ) announced that its ETH holdings have reached 6.03 million, with total encrypted assets, cash, and securities amounting to 16.2 billion US dollars.

• Bitmine indicates that its holdings of ETH account for approximately 4.9% of the total supply of ETH, which is 122.1 million coins.
• The company stated that it is nearly 99% of the way to achieving its goal of exponential growth within 15 months.
• Bitmine released a chairman's speech on October 7, 2026, titled "The Crypto Bull Market is Unfolding: This Cycle Could Be the Biggest Yet."
• Bitmine was included in the large-cap stock index Russell 1000 on June 26, 2026.
• The A-series preferred stocks of Bitmine are listed and traded on the New York Stock Exchange under the code BMNP.
• According to Bitmine, 5,067,309 ETH have been used for staking. Calculated at $2,544 per ETH, their value amounts to 12.9 billion US dollars. The company stated that MAVAN (which includes Made, in, and America VAlidator Network) is an important platform for BMNR and institutional investors to stake Ethereum on.
• Bitmine holds shares of Eightco ( NASDAQ : ORBS ) worth $85 million, thereby becoming one of the few listed companies in the world that can provide investors with an indirect exposure to OpenAI.
• The company stated that its total assets include encrypted assets, cash, securities, and strategic investments amounting to $16.2 billion, which comprise 6.03 million ETH, $612 million in cash and securities, as well as other cryptocurrencies.
• Bitmine indicates that institutional investors who support holding 5% of ETH include Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital from ARK, as well as individual investors Thomas, Tom, and Lee.

Norwalk, Connecticut, October 12, 2026 / PRNewswire / -- Bitmine Immersion Technologies, a company listed on the New York Stock Exchange, is a firm focused on the long-term accumulation of cryptocurrencies on the Bitcoin and Ethereum networks. The company stated on Monday that its holdings of crypto assets, cash, and securities, plus its investments in "moonshots" projects, totaled $16.2 billion.

As of 1:30 p.m. Eastern Time on October 11, 2026, Bitmine, the company held 6,028,946 ETH, valued at $2,544 per coin (price source: Coinbase, NASDAQ : COIN); in addition, it also held 214 Bitcoins (BTC), Beast Industries equity worth $180 million, Eightco Holdings equity worth $85 million (NASDAQ : ORBS), as well as a total of $612 million in cash and securities. The company stated that its ETH holdings account for approximately 4.9% of the total supply of 122.1 million ETH.

Bitmine released the latest chairman's speech on October 7th, titled " Crypto Bull Onway : This Cycle It Likely the Largest ". The company stated that this presentation material can be obtained through the Bitmine official website.

Bitmine Chairman Thomas “Tom” Lee states: “We believe that Bitmine is well-positioned to outperform the market during the crypto bull market we anticipate, as the company has strengthened its competitive edge during the past year's crypto winter (bear market).”

Lee said, "Most of our 6.03 million ETH were accumulated during the bear market in cryptocurrencies. As the company approaches its goal of holding 5% of ETH, we believe we are in a favorable position before the next bull market in cryptocurrencies arrives."

One of the important strategic initiatives taken by the company last year was to issue Bitmine 9.5% perpetual preferred stocks ( BMNP ) in June of this year. The issue price of BMNP was $80, and the closing price was $99.53.

Lee stated: "Since its issuance, the company's sustainable preferred stock BMNP has risen by 24%, outperforming the fixed-income market; during the same period, U.S. Treasury bonds ETF TLT fell by 8%."

He also stated: “BMNP has become the benchmark for the credit yield of ETH. Its yield of 9.56% is 256 basis points lower than that of comparable Bitcoin credit yields (STRC), and 515 basis points lower than that of comparable Solana credit yields (CHAD). In my opinion, this reflects the superior characteristics of ETH in terms of yield and stability.”

Lee indicates: "We believe that as cryptocurrencies enter a new cycle, a bull market is on the horizon. It is noteworthy that during the bear market from 2025 to 2026, Bitmine outperformed ETH. In the first nine months of 2026, ETH fell by 10%, while BMNR fell by 3%, which is equivalent to outperforming by 731 basis points."

He also stated: "In the third quarter of 2026, ETH outperformed the S&P 500 index by 6,832 basis points. Considering the various macroeconomic headwinds of that quarter, including a more hawkish stance from the Federal Reserve, rising oil prices, increasing global bond yields, and a tightening overall financial environment, this performance is particularly noteworthy. During that quarter, ETH outperformed other macro assets by 6,832 basis points."

Lee indicates: "Based on the following factors, we believe this could become the largest crypto bull market in history. The driving forces include: tokenization, wealth transfer, DATS absorbing supply, and the fact that cryptocurrencies are a form of application of artificial intelligence."

The company cited recent statements by Vlad Tenev, the CEO of Robinhood, on CNBC as saying: "A trillion-dollar wealth transfer is taking place." Bitmine stated that, according to data summarized from IRS and Fundstrat, this wealth effect is expected to reach between 1.5 trillion and 2 trillion dollars between 2026 and 2028.

Lee indicates that "the ongoing wealth transfer is expected to drive the next round of crypto bull market, as the inheritors of wealth are younger and may have a higher tolerance for risk when it comes to cryptocurrencies and stocks. We anticipate that this effect will be more pronounced in the bull market we expect, compared to the previous cycle from 2019 to 2021, as the scale of wealth transfer in dollars is expected to be much larger."

He also stated that another difference between the next bull market and previous ones is that crypto digital asset treasuries ( DATS ) have absorbed a larger proportion of the total supply of cryptocurrencies.

Lee stated: " DATS represents a supply that is almost permanently removed from the crypto market, and this development is favorable for the next bull market, especially compared to the period from 2019 to 2021, when DATS was not yet a factor."

He stated, "Over the past week, we have purchased 12,532 units of ETH. Bitmine continues to set a record for continuous purchases of cryptocurrencies, unmatched among listed companies. Since launching the ETH treasury strategy on June 30, 2025, Bitmine has been buying ETH every week."

Bitmine indicates that at the beginning of 2026, the company launched an institutional-level staking platform MAVAN ( Made in America VAlidator Network ). Although MAVAN was initially developed to support Bitmine's own Ethereum treasury, it has now been extended to service institution investors, custodians, and ecosystem partners, providing them with staking infrastructure. The company stated that some ETH have already been deposited on the MAVAN platform.

As of October 11, 2026, the total number of ETH tokens used for collateral by the company is 5,067,309. Calculated at $2,544 per ETH, their value amounts to 12.9 billion US dollars. Bitmine

Lee stated: "The quantity of ETH pledged by Bitmine exceeds that of any other entity in the world. In the case of large-scale operations (that is, all the ETH of Bitmine are pledged through MAVAN and its partners), calculated at a 7-day yield of 2.61% as per BMNR, the annualized reward from pledges is expected to reach 400 million US dollars. In contrast, based on the approximately 5.1 million ETH that have currently been pledged, BMNR's current annualized pledge income is about 336 million US dollars, which is equivalent to 84% of the 6.03 million ETH held by Bitmine."

Bitmine indicates that its reserve of encrypted assets ranks second in the world, only behind Strategy Inc, which is said to hold 848,000 BTC and is valued at approximately $77 billion; at the same time, Bitmine remains the largest holder of ETH in the world.

Bitmine Management believes that the US GENIUS Act and the " Crypto Project " of the US Securities and Exchange Commission ( SEC ) will transform the financial services industry in 2026, in a similar manner to how the US terminated the Bretton Woods system on August 15, 1971, decoupling the dollar from gold. The company states that this event in 1971 drove the modernization of Wall Street and gave rise to today's financial and payment infrastructure.

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About Bitmine

Bitmine Immersion Technologies, Inc. (NYSE : BMNR) and its subsidiaries are a blockchain technology infrastructure company, with business covering institutional-level digital asset pledging and verification services, Bitcoin mining, as well as digital asset strategic management. As a globally leading Ethereum treasury company, Bitmine states that it implements innovative digital asset strategies for institutional investors and public market participants. The company obtains pledging rewards and verification income through institutional-level pledging and verification infrastructure, and also engages in Bitcoin mining operations. Bitmine also strategically holds digital assets, generating earnings from these holdings to support liquidity and capital formation. Since 2025, the company has expanded its blockchain infrastructure capabilities, including the development and deployment of its institutional-level pledging and verification platform MAVAN. The company's business also includes investments in early-stage blockchain opportunities ("high-risk investments"), as well as ancillary services such as mining, hosting, and consulting.

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Forward-looking Statements Warning

This press release contains “forward-looking statements” as defined by the revised Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not purely historical in nature and can typically be identified by words such as “expected,” “predicted,” “intended,” “planned,” “believed,” “anticipated,” “estimated,” “targeted,” “potential,” “likely,” “possible,” “should,” “vision,” and similar expressions.

Forward-looking statements in this press release specifically include, but are not limited to, the following: (i) the company's goal of acquiring 5% of the total supply of ETH (i.e., the “5% Alchemy” plan); (ii) the company's digital asset accumulation and treasury strategy, including statements regarding the pace, scale, and sustainability of ETH acquisitions, as well as management's assertion that the company has largely completed ETH purchases; (iii) the company's staking business, including an annualized staking reward forecast of approximately $400 million for ETH under large-scale operations, as well as an annualized staking revenue forecast of approximately $336 million, which are based on a 7-day cumulative yield and may not represent future earnings; (iv) MAVAN expanding services to institutional investors, custodians, and ecosystem partners; (v) management's views on the future state of the crypto market, including that a crypto bull market has begun or is about to arrive, and the potential for it to be the largest in history, as well as the expected impacts of tokenization, wealth transfer, digital asset treasuries absorbing supply, and artificial intelligence on the crypto market; (vi) management's belief that the company has the capability to outperform in the future market environment, as well as judgments regarding the company's competitive position; (vii) management's views on the company's Series A perpetual preferred stocks (BMNP), including their role as a benchmark for ETH credit yields, as well as their characteristics in terms of yield and stability; (viii) estimates of the future scale of wealth transfer and its impact on demand for cryptocurrencies and stocks; (ix) management's belief that the GENIUS Act and SEC “Crypto Project” will have transformative effects on the financial services industry; and (x) statements regarding the future value of the company's holdings of cryptocurrencies, cash, securities, and “moonshot”.

These forward-looking statements involve significant risks and uncertainties, which may lead to material differences between actual results and the explicitly or implicitly stated content.Factors that may lead to or contribute to such differences include, but are not limited to: extreme and unpredictable price fluctuations in digital assets, including ETH and Bitcoin; the concentration of the company's assets in ETH; the crypto market may not enter a bull market, or if it does, the duration and scale of the bull market may be lower than expected; the company relies on third-party price sources, market valuations, and third-party data and estimates (including wealth transfer estimates), which may fluctuate significantly or be inaccurate; there is uncertainty in the valuation of illiquid and private investments, including Beast Industries holdings; changes in market conditions may affect the trading prices and volumes of the company's securities (including common stock and Series A perpetual preferred stock), as well as the relationship between the trading prices of the company's securities and the value of its digital asset holdings; the company's ability to pay dividends on Series A perpetual preferred stock; future issuance of stocks or equity-linked securities may result in dilution; changes in the company's ETH acquisition plan, including decisions to slow down, pause, or resume purchases; the company's ability to successfully execute its digital asset acquisition strategy and achieve its ETH accumulation goals (including the "5% Alchemy" goal); the company's ability to finance business operations and MAVAN expansion; operational, security, and technical risks related to pledging and verification services, including network failures, confiscation events, cybersecurity vulnerabilities, and protocol changes; actual pledged earnings, rewards, and revenues may differ significantly from forecasted values, including the possibility that short-term cumulative yields may not be sustainable; competition in the digital asset treasury, pledging, and mining industries, as well as the risk that digital asset treasury companies may sell rather than hold digital assets; the company's dependence on key personnel; regulatory developments affecting digital assets, blockchain technology, and pledging activities, including the implementation and interpretation of the GENIUS Act, SEC " Crypto Project ", and other pending legal or regulatory measures; SEC,Actions by CFTC and other regulatory authorities; risks associated with the company's " moonshot " investments (including Eightco Holdings and Beast Industries ); macroeconomic factors, including inflation, interest rates, monetary policy, oil prices, and overall economic conditions; changes to the Ethereum protocol; performance of external service providers, exchanges, custodians, and staking partners; as well as other risk factors described in the documents submitted by the company to SEC.

The company stated that the forward-looking statements in this press release are based on information available to management as of the date of issuance of this press release and reflect management's current expectations, estimates, and views regarding future events. Actual results may differ significantly from those stated or implied due to the aforementioned factors, as well as the content described in the "Risk Factors" section of the company's Form 10-K annual report for the fiscal year ending September 30, 2025 (submitted to SEC on November 21, 2025), the Form 10-Q quarterly report, and other documents submitted to SEC. These relevant documents can be found at www.sec.gov and https :// Bitminetech.io / investor-relations. The company reminds readers not to rely excessively on any forward-looking statements, as they only reflect the circumstances at the time of their formulation. Except as required by applicable laws, Bitmine explicitly states that it has no obligation to update or revise any forward-looking statements.