Bitmine owns 4.9% of the total ETH coin supply of 122.2 million
Bitmine sees 6 reasons this recent Binance theft is a sign of crypto industry strength
Bitmine is 99% of the way to the ‘Alchemy of 5%’ in just 15 months
Bitmine released Chairman’s Message on October 7 titled “Crypto Bull Underway — This Cycle Likely the Largest”
Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026
Bitmine’s Series A Preferred Stock is trading on the NYSE under the symbol BMNP
Bitmine has 5,227,037 staked ETH, representing $11.8 billion at $2,261 per ETH. MAVAN (Made in America VAlidator Network) is a premier Ethereum staking destination for BMNR and institutional investors
Bitmine owns $82 million of Eightco (NASDAQ: ORBS), now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI
Bitmine Crypto + Total Cash Holdings & Marketable Securities + “Moonshots” total $14.5 billion, including 6.06 million ETH tokens, total cash & marketable securities of $498 million, and other crypto holdings
Bitmine remains supported by a premier group of institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas “Tom” Lee to support Bitmine’s goal of acquiring 5% of ETH
NORWALK, Conn., Nov. 2, 2026 /PRNewswire/ — (NYSE: BMNR) Bitmine Immersion Technologies, Inc. (“Bitmine” or the “Company”), a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + “moonshots” holdings totaling $14.5 billion.
As of November 1, 2026 at 4:00pm ET, the Company’s crypto holdings are comprised of 6,060,506 ETH at $2,261 per ETH (per Coinbase NASDAQ: COIN), 216 Bitcoin (BTC), $180 million stake in Beast Industries, $82 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and total cash & marketable securities of $498 million. Bitmine’s ETH holdings are 4.9% of the ETH supply (of 122.2 million ETH).
“Late last week, Binance was hacked and $6.3 billion of customers’ funds was stolen. According to reports by Binance and other media sources, the exploit stems from an infiltration of a contractor into Binance’s corporate infrastructure. The FBI has named North Korea (DPRK) as the perpetrator. While this is a terrible development, in my view, the relatively muted crypto market reaction is very constructive, particularly compared to the market’s response to prior sizable crypto thefts,” stated Thomas “Tom” Lee, Chairman of Bitmine.
“In February 2025, ByBit was also hacked by DPRK (with a very different methodology) and $1.5 billion of customer crypto was stolen. The day the ByBit theft was announced, ETH fell 8% and was down 20% within a week. By contrast, since the Binance theft was disclosed, ETH went down 4%. We believe this is a far more muted market reaction despite the size of the theft being approximately quadruple the size,” continued Lee.
“We believe there are 6 reasons that explain why the Binance theft has a muted market reaction. These are:
- Binance has the financial capabilities to cover all customer losses.
- There was not a ‘cascade’ of Defi protocol failures, as was seen post-ByBit theft.
- Swift industry action cut potential loss by 50%.
- FBI named North Korea (DPRK) as the responsible party within 2 days of the theft. Historically, authorities have taken as long as 180 days to name DPRK in prior heists.
- Exploit was a “corporate infiltration” of Binance infrastructure and not a blockchain exploit.
- Limited price downside is a sign that a crypto “bull market” is underway, notwithstanding recent price declines.
And taken altogether, we believe this is a sign that the crypto industry is increasingly resilient and more capable of absorbing these nation-state assaults on financial infrastructure,” stated Lee.
“Over the past week, we acquired 8,573 ETH. Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each week since the inception of the ETH Treasury Strategy on June 30, 2025,” stated Lee.
On October 7, Bitmine released its latest Chairman’s message titled “Crypto Bull Underway — This Cycle Likely the Largest.” The presentation is available at the Bitmine website (presentation link).
Earlier in 2026, Bitmine launched MAVAN (the Made in America VAlidator Network), the institutional-grade staking platform. While MAVAN was originally developed to support Bitmine’s own Ethereum treasury, MAVAN has expanded to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine’s ETH is already staked on the MAVAN platform.
As of November 1, 2026, Bitmine total staked ETH stands at 5,227,037 ($11.8 billion at $2,261 per ETH). “Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward would be $415 million on an annualized basis (using 3.03% 7-day BMNR yield). This compares to annualized staking revenues at $358 million based upon 5.2 million staked ETH (86% of the 6.06 million ETH held by Bitmine),” continued Lee.
Bitmine’s crypto holdings reign as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc., which reportedly owns 848,517 BTC valued at approximately $71 billion. Bitmine remains the largest ETH treasury in the world.
Bitmine management believes the GENIUS Act and the Securities and Exchange Commission’s (SEC) Project Crypto are as transformational to financial services in 2026 as the U.S. action on August 15, 1971, which ended the Bretton Woods system and took the U.S. dollar off the gold standard 55 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today.
The Chairman’s message can be found here:
https://www.Bitminetech.io/chairmans-message
The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here:
https://Bitminetech.io/investor-relations/
To stay informed, please sign up at: https://Bitminetech.io/contact-us/
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries (“Bitmine” or the “Company”), is a blockchain technology infrastructure company operating across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. As the world’s leading Ethereum Treasury company, it implements an innovative digital asset strategy for institutional investors and public market participants. The Company provides institutional-grade staking and validation infrastructure—through which it earns staking rewards and validation income—alongside bitcoin mining activities. Bitmine holds digital assets strategically, generating yield on those holdings to support liquidity and capital formation. Since 2025, the Company has expanded its blockchain infrastructure capabilities, including developing and deploying MAVAN, its institutional staking and validation platform. The Company’s activities further include investments in early-stage blockchain opportunities (“moonshot” investments) and ancillary mining, hosting, and consulting services.
For additional details, follow on X:
Cautionary Note on Forward Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include all statements that are not purely historical and can generally be identified by terms such as “expects,” “projects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” “may,” “will,” “would,” “could,” “should,” “view,” or similar expressions. This press release specifically contains forward-looking statements regarding: (i) the Company’s goal of acquiring 5% of the total ETH supply (the “Alchemy of 5%” initiative); (ii) the Company’s digital asset accumulation and treasury strategy, including statements regarding continued weekly ETH acquisitions and the Company’s status as the largest ETH treasury in the world; (iii) the Company’s staking operations, including projected annualized ETH staking rewards of approximately $415 million at scale and currently projected annualized staking revenues of approximately $358 million based on currently staked ETH; (iv) MAVAN’s expansion to serve institutional investors, custodians, and ecosystem partners; (v) management’s beliefs regarding crypto market conditions, including the views that a crypto bull market is underway and regarding the significance of the market reaction to the Binance theft and the resilience of the crypto industry; (vi) management’s opinion regarding the potential impact of the GENIUS Act and SEC Project Crypto on financial services; and (vii) statements regarding the value of the Company’s crypto, cash, marketable securities, and “moonshot” holdings.
These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause or contribute to such differences include, but are not limited to: the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin; the Company’s reliance on third-party pricing sources and reported market values, which may fluctuate materially; changes in market conditions affecting the trading price and volume of the Company’s securities; the Company’s ability to successfully execute its digital asset acquisition strategy and achieve its ETH accumulation targets, including the “Alchemy of 5%” goal; the Company’s ability to finance its business operations and MAVAN expansion; operational, security, and technological risks associated with the Company’s staking and validation operations, including network failures, slashing events, cybersecurity breaches (including thefts and exploits of exchanges, custodians and other industry participants such as the recent Binance theft), and protocol changes; the risk that actual staking yields, rewards, and revenues differ materially from projected amounts; competition in the digital asset treasury, staking, and mining industries; the Company’s dependence on key personnel; regulatory developments affecting digital assets, blockchain technology, and staking activities, including the ultimate enactment, implementation, and interpretation of the GENIUS Act and other pending legislation; actions by the SEC, CFTC, and other regulatory bodies; risks related to the Company’s “moonshot” investments, including in Eightco Holdings and Beast Industries; macroeconomic factors, including inflation, interest rates, and general economic conditions; changes to the Ethereum protocol; the performance of third-party service providers, exchanges, custodians, and staking partners; and the other risk factors described in the Company’s filings with the SEC.
The forward-looking statements contained in this press release are based on information available to management as of the date of this release and reflect management’s current expectations, estimates, and beliefs concerning future events. Actual results may vary materially from those expressed or implied based on the factors described above and in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC on November 21, 2025, the Company’s Quarterly Reports on Form 10-Q, and the Company’s other filings with the SEC, as amended or updated from time to time. Copies of these filings are available at www.sec.gov and at https://Bitminetech.io/investor-relations/. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Bitmine expressly disclaims any obligation to update or revise any forward-looking statements except as required by applicable law.
