Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.98 Million Tokens, and Total Crypto and Total Cash Holdings of $17.1 Billion
Bitmine Immersion Technologies says its ETH holdings have reached 5.98 million tokens, alongside $17.1 billion in total crypto and cash holdings. The company is 98% of the way toward owning 5% of ETH’s total supply, tying its balance-sheet expansion to a concentrated crypto-accumulation strategy.
Bitmine Immersion Technologies said its ETH holdings reached 5.98 million tokens and that total crypto and cash holdings stood at $17.1 billion. The company said it owns 4.9% of the total ETH supply, estimated at 122.1 million tokens, and described itself as 98% of the way toward its “Alchemy of 5%” objective.
The announcement places the latest holdings milestone within a strategy launched 15 months ago to build a large ETH position. It also highlighted ETH’s performance in the third quarter of 2026 to date, saying the token had outperformed the S&P 500 by 6,519 basis points.
The figures connect Bitmine’s corporate balance sheet directly to ETH’s market value: changes in the token’s price affect the value of the company’s crypto holdings, while further accumulation would increase its exposure to the asset. Bitmine also said Tom Lee will deliver the keynote at KBW on September 30, 2026.
The company’s older fiscal-year data show $6.1 million in revenue for the year ended August 31, 2025, up 84.1% year over year, alongside a reported 5719.1% net margin and $13.39 diluted EPS. Those figures describe an earlier accounting period than the current holdings announcement and do not measure the value of the newly cited ETH position.
The next dated event is Lee’s September 30 keynote. Subsequent ETH-price moves, changes in the token balance and the company’s next financial reporting will clarify how the holdings strategy is translating into reported results.
Bitmine (BMNR) now holds 5.98 million ETH tokens and $17.1 billion in total crypto and cash.
BMNR’s earnings profile is dominated by the scale and valuation of its crypto holdings rather than operating revenue: the latest company figures cite $17.1 billion in total crypto and cash against $6.1 million of revenue in the year ended August 31, 2025. The 5.98 million-token ETH position creates substantial concentration in one asset, while the 4.9% ownership level and 98% progress toward the 5% goal provide a concrete marker for the next accumulation update.
A sustained decline in ETH would reduce the value of the concentrated holdings base, while the next update could show slower accumulation or less cash available for purchases.
CoverageSource: PR Newswire · Published here MON, SEP 21 · 8:30 AM ET · the only report in this recordHow this is decided →
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The bull case is that reaching 5% ownership would reinforce BMNR’s stated accumulation strategy as ETH has outperformed the S&P 500 by 6,519 basis points in Q3 2026 to date.
The bear case is concentration: 5.98 million ETH tokens make BMNR’s balance sheet highly dependent on ETH’s price, while its latest cited annual revenue was only $6.1 million.
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