Bitmine Immersion Discloses $15B in Total Crypto & Cash Holdings, Reaching 6.05M ETH

Corporate Treasury & Operational Update Overview

On October 26, 2026, Bitmine Immersion Technologies, Inc. (NYSE: BMNR) furnished a Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure), attaching a press release detailing updates on its balance sheet, digital asset accumulation, staking operations, and capital return program.

---

Key Highlights

1. Total Holdings & Balance Sheet Value:

   • Total combined holdings of crypto, cash, marketable securities, and strategic investments reached $15 billion as of October 25, 2026.
   • Cash & Marketable Securities: $514 million.
   • Ethereum (ETH): 6,051,933 tokens, valued at approximately $14.26 billion ($2,356/ETH per Coinbase pricing).
   • Bitcoin (BTC): 215 BTC.
   • Strategic Assets ("Moonshots"): $180 million position in Beast Industries; $76 million position in Eightco Holdings (NASDAQ: ORBS).

2. ETH Accumulation Progress ("Alchemy of 5%"):

   • Bitmine’s holdings represent 4.95% of the total circulating ETH supply (based on 122.2 million coins), placing the company at 99% of its stated "Alchemy of 5%" acquisition goal across 15 months.
   • Acquired 10,452 ETH during the past week alone.

3. Staking & MAVAN Infrastructure:

   • Bitmine has 5,227,037 ETH staked (~86% of total holdings), valued at $12.3 billion.
   • The company projects $318 million in annualized staking revenues at current staked levels, and $368 million annualized at full treasury deployment using a 2.58% 7-day BMNR yield baseline through its Made in America Validator Network (MAVAN) platform.

4. Share Repurchase Execution:

   • Repurchased 2.04 million shares over the prior week at an average price of $22.48.
   • Cumulative 2026 equity repurchases total 22.9 million shares for an aggregate purchase value of $399.6 million (average price of $17.48 per share).

---

Strategic Implications

• Market Valuation Alignment: Bitmine continues to pair large-scale cryptocurrency accumulation with aggressive capital return via common share repurchases whenever management perceives the equity trades at a discount relative to Net Asset Value (NAV).
• Cash Flow Transition: The rapid increase in institutional staking via MAVAN indicates BMNR's operational shift toward capturing recurring network rewards and cash flow from digital asset validation to support corporate liquidity without forced asset liquidations.