Bitmine Immersion Technologies, Inc. said its Ether (ETH) holdings reached 6,041,481 as of Oct. 18, bringing the company close to its goal of holding 5% of the asset's total supply.
The company said it acquired 12,535 ETH during the preceding week. It estimated that its holdings represented 4.9% of a total ETH supply of 122.1 million, putting it 99% of the way toward its stated target.
Bitmine valued its cryptocurrency, cash, marketable securities and other investments at $15.1 billion in the Oct. 18 snapshot, down from $16.2 billion as of Oct. 11. It said it used a Coinbase price of $2,365 per ETH for the latest valuation, compared with $2,544 for the earlier one.
The latest snapshot also included 215 Bitcoin (BTC), $582 million in cash and marketable securities, a $180 million stake in Beast Industries and a $74 million stake in Eightco Holdings.
Bitmine said it had staked 5,067,309 ETH, about 84% of its Ether holdings, as of Oct. 18. It estimated $309 million in annualized staking revenue at that level. A separate $369 million projection assumes all its ETH is staked and uses a 2.58% seven-day BMNR yield. Neither figure is reported realized revenue.
Bitmine Chairman Thomas “Tom” Lee said the company has acquired ETH each week since starting its treasury strategy on June 30, 2025. The company's filing identifies ETH price volatility and staking risks as potential hazards to the strategy.
Bitmine said it launched MAVAN, its staking platform, earlier in 2026 for its own treasury. The platform now also serves institutional investors, custodians and ecosystem partners, the company said.
