Bitmine holds 4.9% of the total supply of ETH, which corresponds to a portion of 122.2 million ETH.
According to Bitmine, the recent theft of Binance reflects the resilience of the crypto industry, and six reasons are listed.
The company stated that it has achieved 99% of the “Alchemy of 5%” target in just 15 months.
Bitmine released a chairman's letter on October 7th titled "The crypto bull market has begun, and this round could be the most important of all time."
Bitmine was incorporated into Russell on June 26, 2026, along with 1000 Large-cap and Index.
The Bitmine A series of preferred stocks are traded on the New York Stock Exchange under the code BMNP.
Bitmine currently has 5,227,037 ETH in a staked state. Calculated at $2,261 per ETH, their value amounts to 11.8 billion US dollars; MAVAN ( Made in America VAlidator Network ) is an Ethereum staking platform aimed at BMNR and institutional investors.
Bitmine holds 82 million US dollars worth of shares in Eightco. The company is listed on NASDAQ under the code ORBS. Bitmine refers to it as one of the few publicly traded companies in the world that currently allow investors to indirectly access OpenAI.
Bitmine indicates that the total value of its encrypted assets, cash, tradable securities, and investments in “moonshot” amounts to 1.45 billion US dollars, which includes 6.06 million ETH, 498 million US dollars in cash and tradable securities, as well as other holdings of encrypted assets.
According to Bitmine, the company has continued to gain support from a group of top institutional investors, including Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital from ARK, as well as individual investors Thomas, Tom, and Lee. This support helps the company achieve its goal of securing 5% of the total supply of ETH.
Norwalk, Connecticut, November 3, 2026 / PRNewswire / -- Bitmine Immersion Technologies, a company listed on the New York Stock Exchange (Inc). (hereinafter referred to as “Bitmine” or “the Company”, NYSE: BMNR), is a company that is active in the Bitcoin and Ethereum networks and focuses on accumulating crypto assets as a long-term investment. The Company announced today that the total value of its crypto assets, cash, tradable securities, and “moonshot” investments has reached $14.5 billion.
As of 16:00 Eastern Time on November 1, 2026, the company's holdings of crypto assets included 6,060,506 ETH, valued at $2,261 per ETH (according to Coinbase, NASDAQ : COIN); 216 bitcoins (BTC); a stake of $180 million in Beast Industries; a stake of $82 million in Eightco Holdings ($NASDAQ : ORBS) ("moonshot"); and a total of $498 million in cash and tradable securities. The ETH held by Bitmine accounts for 4.9% of the total supply of ETH; the company states that the total supply of ETH is 122.2 million coins.
Bitmine Chairman Thomas “Tom” Lee stated: “Last weekend, Binance was attacked, and customer funds amounting to 6.3 billion US dollars were stolen. According to Binance and other sources of information, this attack originated from a related individual from an external supplier who infiltrated the Binance corporate infrastructure. The United States Federal Bureau of Investigation (FBI) has attributed responsibility to North Korea (DPRK). Despite this being an extremely serious incident, I find the relatively mild reaction of the crypto market encouraging, especially when compared to the market responses after previous major crypto theft incidents.”
Lee indicates that in February 2025, ByBit also suffered an attack from North Korea. Although the methods of the attacks were very different, customers had their encrypted assets stolen worth $1.5 billion. On the day the news of the theft of ByBit was announced, ETH fell by 8%, and within a week, the decline expanded to 20%. In contrast, since the announcement of the theft of Binance, ETH has fallen by 4%. We believe that although the amount stolen this time is approximately four times that of the previous incidents, the market reaction has been significantly more restrained.
Lee states: "We believe that there are six reasons why the theft incident of Binance has triggered a relatively mild market reaction:"
- Binance has sufficient financial resources to cover all of the customer's losses.
- There has been no chain failure of the DeFi protocol like that which occurred after the theft of ByBit.
- The industry took prompt action, reducing potential losses by 50%.
- Within 2 days of the theft, FBI identified North Korea (DPRK) as the responsible party. Historically, in similar attacks, it has sometimes taken law enforcement up to 180 days to make such a determination.
- This attack is considered an "enterprise penetration" of the Binance infrastructure, rather than a vulnerability in the blockchain itself.
- The limited decline in prices indicates that, despite recent corrections, the crypto market is still in a "bull market."
Overall, we believe that this indicates that the crypto industry is becoming more resilient and better able to withstand attacks on financial infrastructure launched by state actors.
Lee also indicates: 'Over the past week, we have purchased an additional 8,573 ETH. Since the launch of ETH Treasury Strategy on June 30, 2025, Bitmine has been buying ETH every week, and there is no listed company in the world that can compare with Bitmine in terms of continuous purchasing of crypto assets.'
Bitmine indicates that the company released its latest chairman's letter on October 7th, titled "Crypto Bull Underway — This Cycle Likely the Largest" (The crypto bull market has begun — this round could be the most important one yet). This presentation material can be viewed on the Bitmine official website.
The company stated that in early 2026, Bitmine launched MAVAN, which is the institutional-level staking platform known as Made in America VAlidator Network. MAVAN was initially developed to support Ethereum wallets for Bitmine, and later its scope was expanded to include service institution investors, custodian organizations, and ecosystem partners, providing them with professional-level staking infrastructure. Bitmine indicated that a portion of the ETH they hold has already been staked on the MAVAN platform.
As of November 1, 2026, Bitmine has a total of 5,227,037 ETH in a pledged state. Calculated at $2,261 per ETH, this amounts to a value of 11.8 billion US dollars. Lee states: "The quantity of Bitmine pledged by ETH exceeds that of any other entity globally. In the future, when all Bitmine of ETH have been pledged through MAVAN and its partners, with a 7-day yield of 3.03% as per BMNR, the annualized pledged rewards are expected to reach 415 million US dollars. In contrast, based on the current 5.2 million ETH that are pledged, which accounts for about 86% of the 6.06 million ETH held by Bitmine, the current annualized pledged income is approximately 358 million US dollars."
Bitmine indicates that its holdings of encrypted assets make it the world's largest Ethereum wallet company, as well as the second-largest encrypted wallet company globally, only behind Strategy Inc. The latter is reported to hold 848,517 BTC, worth approximately $71 billion. Bitmine claims that the company remains the world's largest Ethereum wallet company.
Bitmine Management believes that GENIUS Act and the "Project Crypto" of the U.S. Securities and Exchange Commission (SEC) may have a transformative impact on the financial services industry in 2026, an impact that could be compared to that of August 15, 1971, when the United States ended the Bretton Woods system and decoupled the dollar from gold convertibility. The company states that the events of 1971 drove the modernization of Wall Street and led to the emergence of today's large financial and payment infrastructure participants.
Chairman's Letter Link: https :// www.Bitminetech.io / chairmans-message
2025 fiscal year annual performance presentation materials and company introduction link: https :// Bitminetech.io / investor-relations /
To receive updates, you can register here: https :// Bitminetech.io / contact-us /
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE : BMNR) and its subsidiaries (collectively referred to as “Bitmine” or “the Company”) are a blockchain technology infrastructure company whose business covers institutional-level pledging and verification services for digital assets, Bitcoin mining, and strategic management of digital assets. The Company claims to be the largest Ethereum vault company in the world, adopting innovative digital asset management strategies for institutional investors and investors in regulated markets. The Company generates pledging rewards and verification income through its institutional-level pledging and verification infrastructure, while also engaging in Bitcoin mining operations. Bitmine also strategically holds digital assets and earns profits from these holdings to support liquidity and financing. 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 investing in high-potential early-stage blockchain opportunities, as well as providing mining assistance services, infrastructure management, and consulting services.
For more information, follow Bitmine on Platform X: https :// x.com / bitmnr as well as https :// x.com / fundstrat.
Forward-looking Statements Warning
This press release contains statements that constitute “forward-looking statements” in accordance with the Private Securities Litigation Reform Act of 1995 and its amendments. Forward-looking statements include all statements that are not purely historical facts and can typically be identified by words such as “expected,” “predicted,” “intended,” “planned,” “believed,” “estimated,” “possible,” “will,” “shall,” “may,” “should,” “considered,” or similar expressions.
Specifically, the forward-looking statements in this press release include but are not limited to the following: (1) The company's goal of acquiring 5% of the total supply of ETH, namely the “Alchemy of 5%” plan; (2) The company's strategy regarding digital asset accumulation and treasury management, including continuing to purchase ETH on a weekly basis and maintaining its position as the world's largest ETH treasury; (3) The company's staking business, which is expected to generate an annualized staking reward of approximately $415 million after full deployment, as well as an annualized staking income of approximately $358 million based on the currently staked ETH; (4) Expanding services to institutional investors, custodian institutions, and ecosystem partners with MAVAN; (5) Management's assessment of the crypto market situation, including the belief that a crypto bull market is underway, as well as views on the market reaction to the Binance theft incident and the industry's resilience; (6) Management's perspectives on how GENIUS Act and SEC “Project Crypto” may impact the financial services industry; and (7) Statements regarding the value of the company's holdings of crypto assets, cash, tradable securities, and “moonshot” investments.
These forward-looking statements involve significant risks and uncertainties, which may lead to substantial differences between actual results and those expressed or implied. Factors that may cause or contribute to such differences include, but are not limited to: extreme and unpredictable price fluctuations of digital assets, including ETH and Bitcoin; the company's reliance on third-party pricing sources and disclosed market values, which may change significantly; changes in market conditions that may affect the price and trading volume of the company's securities; the company's ability to successfully execute its digital asset acquisition strategy and achieve the ETH accumulation targets (including the “Alchemy of 5%” target); the company's ability to raise funds for operations and MAVAN expansion; operational, security, and technical risks related to the company's pledging and verification business, including network failures, confiscation events, cybersecurity incidents, thefts, and cyberattacks targeting exchanges, custodian institutions, and other industry participants (including recent Binance theft incidents), as well as changes to protocols; the risk that actual pledging earnings, rewards, and revenues will differ significantly from expectations; competition in the fields of digital asset vaults, pledging, and mining; the company's dependence on key personnel; regulatory developments related to digital assets, blockchain technology, and pledging activities, including the final approval, implementation, and interpretation of the GENIUS Act and other pending legislative proposals; actions taken by SEC, CFTC and other regulatory authorities; risks associated with the company's “moonshot” investments (including Eightco Holdings and Beast Industries); macroeconomic factors such as inflation, interest rates, and overall economic conditions; changes to the Ethereum protocol; and the performance of third-party service providers, exchanges, custodian institutions, and pledging partners, as well as other risk factors described in the documents submitted by the company to SEC.
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 beliefs regarding future events. Due to the aforementioned factors, as well as those described in the “Risk Factors” section of the company’s Form 10-K annual report for the fiscal year ending September 30, 2025 (filed with SEC on November 21, 2025), the Form 10-Q quarterly report, and other documents submitted to SEC, actual results may differ significantly from these expressed or implied contents. The relevant documents can be found at www.sec.gov and https :// Bitminetech.io / investor-relations. The company reminds readers not to rely excessively on forward-looking statements, which only reflect the circumstances as of the date they were made. Except as required by applicable laws, Bitmine explicitly states that it has no obligation to update or revise forward-looking statements.
