Bitmine adds 12,535 ETH, now holds 6.04M ETH and 4.9% of supply
Bitmine Immersion Technologies reported 6,041,481 ETH and $15.1 billion in total holdings on Oct. 19. The dollar total has fallen over three weekly updates even as the reported ETH count rose.
Bitmine Immersion Technologies (NYSE: BMNR) said on Oct. 19, 2026 that it acquired 12,535 ETH over the past week. That lifts its holdings to 6,041,481 ETH. The company reported $15.1 billion in total crypto, cash, marketable securities and 'moonshot' stakes, and says it owns 4.9% of ETH supply.
What is in the headline total
The headline figure is broader than ETH alone. As of Oct. 18 at 3:00pm ET, the holdings were:
- 6,041,481 ETH, valued at $2,365 per ETH (price per Coinbase)
- 215 BTC
- A $180 million stake in Beast Industries
- A $74 million stake in Eightco Holdings (NASDAQ: ORBS)
- $582 million in cash and marketable securities
The release labels the Beast Industries and Eightco stakes 'moonshots'. BCA's arithmetic puts the ETH at about $14.29 billion, roughly 94% of the total. The week's purchase is worth about $29.6 million at the company's reference price. The release excerpts do not disclose the average purchase price.
Progress toward 5%
Bitmine says it owns 4.9% of a 122.1 million ETH supply and is 99% of the way to what it calls the 'Alchemy of 5%' in 15 months. Market data (CoinGecko via DefiLlama, Oct. 19) shows circulating supply of about 122.1 million, consistent with the company's figure. Supply figures vary slightly by data provider (the live pulls show about 122.11M to 122.15M ETH), so the exact share depends on the source.
Tom Lee is quoted in the release as saying Bitmine has bought ETH every week since the ETH Treasury Strategy began on June 30, 2025. BCA arithmetic: this week's purchase is about 0.2% of its position (12,535 of 6,041,481 ETH).
Holdings up, headline value down
Over the last three weekly updates, reported ETH holdings rose from 6.02 million to 6.03 million to 6.04 million, per Finwire. The headline total fell from $17.4 billion to $16.2 billion and then to the latest figure. ETH makes up about 94% of the total, so ETH price changes would affect the headline figure, but no source confirms that price caused the decline. As of 14:03 UTC on Oct. 19, ETH traded near $2,394, against the $2,365 used for the Oct. 18 valuation.
Staking
Bitmine reports 5,067,309 staked ETH as of Oct. 18, valued at $12 billion. It says it stakes through MAVAN (Made in America VAlidator Network) and claims to have staked more ETH than any other entity in the world. The release compares annualized staking revenue of $309 million to 5.1 million staked ETH, which it calls 84% of holdings. The $309 million is a company estimate, not realized revenue.
Backers and business
Bitmine describes itself as a Bitcoin and Ethereum Network company focused on accumulating crypto for long-term investment. The release names ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas 'Tom' Lee as backers of the 5% goal.
Caveats
All holdings figures come from Bitmine's own release. The headline total mixes ETH with cash, BTC and two 'moonshot' stakes, so it is not directly comparable with ETH-only figures. The release's 'Alchemy of 5%' framing is promotional.