Bitmine Immersion Technologies, the New York Stock Exchange-listed company focused on digital asset accumulation, reported on Monday that it purchased an additional 12,535 Ethereum tokens over the past week. The acquisition raises the firm’s total Ethereum holdings to 6,041,481 ETH, valued at approximately $14.3 billion based on a reference price of $2,365 per token as of 3:00 p.m. Eastern Time on October 18.

The stake now accounts for 4.9 percent of Ethereum’s reported supply of 122.1 million tokens, placing Bitmine 99 percent of the way toward its stated goal of owning 5 percent of the network. The company refers to this target as the “Alchemy of 5 percent” and has pursued it consistently since launching its Ethereum treasury strategy on June 30, 2025.

Consistent Weekly Buying and Portfolio Composition

Bitmine stated that it has acquired Ethereum every week without interruption since the strategy began roughly 15 months ago. Chairman Thomas “Tom” Lee described the firm’s buying record as unmatched among public companies. The latest purchase follows a similar weekly addition announced the prior week.

Beyond Ethereum, Bitmine’s overall holdings of cryptocurrency, cash, marketable securities and strategic investments reached $15.1 billion. This figure includes 215 Bitcoin, $582 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $74 million position in Eightco Holdings, which the company presents as providing indirect exposure to OpenAI.

Staking Operations and Projected Yields

Of the company’s Ethereum holdings, 5,067,309 tokens, or roughly 84 percent, are currently staked. Valued at the same reference price, the staked portion totals about $12 billion. Bitmine operates the Made in America Validator Network, or MAVAN, an institutional-grade staking platform originally developed for its own treasury and later expanded to serve external institutional investors, custodians and partners.

Using a seven-day annualized yield of 2.58 percent, the company projects approximately $309 million in annualized staking revenue from the existing staked balance. If the full Ethereum position were staked through MAVAN and its partners, the projected annualized figure would rise to $369 million. These amounts represent forward-looking estimates rather than realized income.

Market Context and Chairman’s Assessment

Lee attributed recent pressure on cryptocurrency prices to a broader contraction in risk appetite. He cited concerns around artificial intelligence funding and model safety, escalating U.S.-Iran tensions, uncertainty ahead of U.S. midterm elections, and rising global bond yields. These factors, he said, triggered selling in AI, semiconductor and memory stocks that spilled into markets in Korea and Taiwan, regions with significant crypto ownership, creating secondary pressure on digital assets.

Lee characterized the resulting price declines, occurring while fundamentals remain resilient, as historically attractive risk-reward opportunities. He noted cryptocurrency’s exposure to modernization of global financial infrastructure and to agentic artificial intelligence. In comments accompanying the announcement, he expressed the view that Bitmine has strengthened its competitive position during the recent period of weaker prices and is positioned to benefit from an expected future upturn in the crypto market.

Bitmine ranks as the largest Ethereum treasury among public companies and the second-largest overall crypto treasury, trailing Strategy Inc., which holds approximately 848,250 Bitcoin. Shares of Bitmine, which trade under the ticker BMNR, declined in the session surrounding the announcement, consistent with broader movements in crypto-related equities.

The company also pointed to regulatory developments including the GENIUS Act and the Securities and Exchange Commission’s Project Crypto as potentially significant for the financial services sector. Bitmine was added to the Russell 1000 index earlier in 2026, and its Series A preferred stock trades on the NYSE under the symbol BMNP.

As of the reporting date, Bitmine remained supported by a group of institutional investors that includes ARK Investment Management, Founders Fund, Pantera, Kraken, Digital Currency Group and Galaxy Digital, among others.