Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.03 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $16.2 Billion

Thomas "Tom" Lee, Chairman of Bitmine

“We believe Bitmine is positioned to outperform the crypto bull market that we expect to be coming, as the company has strengthened its competitive position over the past year in the midst of a crypto winter (bear market).”

Thomas "Tom" Lee, Chairman of Bitmine

“The accumulation of a majority of our 6 million ETH took place in the midst of a crypto bear market and with the Company nearing our 5% ETH accumulation target, we believe the company is attractively positioned ahead of the coming crypto bull,”

Thomas "Tom" Lee, Chairman of Bitmine

“BMNP, the Company's perpetual preferred stock, gained 24% since issuance outperforming fixed income as Treasuries (TLT) fell -8% in that same timeframe,”

Thomas "Tom" Lee, Chairman of Bitmine

“BMNP has established a benchmark yield for ETH credit and at 9.56% is 256bp below that of comparable Bitcoin credit yield (STRC) and 515bp below that of comparable Solana yield (CHAD). This reflects the superior yield and stability characteristics of ETH, in my opinion,”

Thomas "Tom" Lee, Chairman of Bitmine

“We believe that as crypto enters a cycle we expect to be a bull market, what is notable is Bitmine's share price outperformance of ETH during the bear market of 2025-2026. In the first 9 months of 2026, ETH declined 10% while BMNR was down by 3%, or outperformance of 731bp,”

Thomas "Tom" Lee, Chairman of Bitmine

“The outperformance of ETH by 6,832bp relative to the S&P 500 in 3Q26 is notable considering the substantial macro headwinds that emerged in the quarter including a 'hawkish' Fed, surging oil, rise in global bond yields and general tightening of financial conditions. For the quarter, ETH outperformed by 6,832bp, dwarfing other macro assets,”

Thomas "Tom" Lee, Chairman of Bitmine

“Owing to the following factors, we see the potential for this to be the largest ever crypto bull market. The drivers being: tokenization; wealth transfer; DATS absorbed supply; Crypto being an AI downstream story,”

Vlad Tenev, CEO of Robinhood

“$100 trillion of wealth transfer is underway”

Thomas "Tom" Lee, Chairman of Bitmine

“The wealth transfer underway is expected to support the upcoming crypto bull market as those inheriting wealth are younger and likely have a higher risk appetite for crypto and equities. We expect this effect to be more pronounced in the bull market we expect to be upcoming compared to the prior 2019-2021 cycle as the wealth transfer is projected to be a much larger dollar value transfer compared to last cycle,”

Thomas "Tom" Lee, Chairman of Bitmine

“Over the past week, we acquired 12,532 ETH. Bitmine's track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025,”

Thomas "Tom" Lee, Chairman of Bitmine

“Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward would be $400 million on an annualized basis (using 2.61% 7-day BMNR yield). This compares to annualized staking revenues at $336 million based upon BMNR's 5.1 million currently staked ETH (84% of the 6.03 million ETH held by Bitmine),”