Bitmine Immersion Technologies (BMNR) added 27,180 ETH last week, pushing its total Ethereum position to 5,956,378 ETH—4.9 percent of Ethereum's 122 million ETH supply. At $2,513 per token, the stake is worth $14.95 billion.
The company's total crypto and cash holdings reached $15.8 billion as of Sept. 13, 2026, including $549 million in cash and marketable securities plus smaller positions in Bitcoin and alternative investments.
Bitmine has staked 5,067,309 ETH—85 percent of its Ether position—generating yield through MAVAN, the Made in America Validator Network. The staked amount represents $12.7 billion at current prices.
Chairman Tom Lee noted Ethereum's ETH/BTC ratio hit its highest level since Jan. 30, breaking the downtrend that began during the COVID-19 crash. He attributed the move to Ethereum's emerging role as settlement infrastructure for Wall Street tokenization and its positioning in agentic AI systems—all while global equities remain rangebound during geopolitical risk and rising yields.
Tom DeMark, founder of DeMark Analytics and capital markets advisor to Bitmine, sees sharp upside ahead. ETH traded sideways through August without breaking down, and his 12-day metric expired—a technical signal he views as renewal of upside momentum.
Ethereum has outperformed the S&P 500 by 5,866 basis points year-to-date in the third quarter of 2026, making it the best-performing macro asset in that period.
Bitmine's push to 5 percent ETH supply has drawn backing from Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and others. Bitmine was added to the Russell 1000 index on June 26, 2026. Its Series A Preferred Stock trades on the NYSE under BMNP.
Lee is keynoting KBW on Sept. 30.
