Bitmine Immersion Technologies accumulates 6.02M ETH tokens, bringing total crypto and cash holdings to $17.4B.
Macro & Markets ·
Bitmine Immersion Technologies reached 6.02 million ETH tokens as of early October, representing 4.9% of the total ETH supply, according to a company announcement. Combined with cash, marketable securities, and other crypto assets, the firm's total holdings reached $17.4 billion. The stake includes 5,067,309 staked ETH valued at $13.8 billion, plus $643 million in cash and securities, along with minority positions in Beast Industries and Eightco Holdings.
The accumulation positions Bitmine roughly 99% of the way toward its stated goal of acquiring 5% of Ethereum's circulating supply. The company added 15,112 ETH over a single recent week and executed a major share buyback program that acquired 21 million shares during 2026 alone. Leadership emphasized that Bitmine's stock outperformed Ethereum during the 2025–2026 downturn, declining 3% versus ETH's 10% drop.
What remains unclear is whether Bitmine will complete its 5% acquisition target and at what pace capital deployment may continue, given macro conditions and the scale of remaining purchases required.