Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.06 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $14.5 Billion

Thomas "Tom" Lee, Chairman of Bitmine

“Late last week, Binance was hacked and $6.3 billion of customers' funds was stolen. According to reports by Binance and other media sources, the exploit stems from an infiltration of a contractor into Binance's corporate infrastructure. The FBI has named North Korea (DPRK) as the perpetrator. While this is a terrible development, in my view, the relatively muted crypto market reaction is very constructive, particularly compared to the market's response to prior sizable crypto thefts.”

Thomas "Tom" Lee, Chairman of Bitmine

“In February 2025, ByBit was also hacked by DPRK (with a very different methodology) and $1.5 billion of customer crypto was stolen. The day the ByBit theft was announced, ETH fell 8% and was down 20% within a week. By contrast, since the Binance theft was disclosed, ETH went down 4%. We believe this is a far more muted market reaction despite the size of the theft being approximately quadruple the size”

Thomas "Tom" Lee, Chairman of Bitmine

“We believe there are 6 reasons that explain why the Binance theft has a muted market reaction. These are: 1. Binance has the financial capabilities to cover all customer losses. 2. There was not a 'cascade' of Defi protocol failures, as was seen post-ByBit theft. 3. Swift industry action cut potential loss by 50%. 4. FBI named North Korea (DPRK) as the responsible party within 2 days of the theft. Historically, authorities have taken as long as 180 days to name DPRK in prior heists. 5. Exploit was a "corporate infiltration" of Binance infrastructure and not a blockchain exploit. 6. Limited price downside is a sign that a crypto "bull market" is underway, notwithstanding recent price declines. And taken altogether, we believe this is a sign that the crypto industry is increasingly resilient and more capable of absorbing these nation-state assaults on financial infrastructure”

Thomas "Tom" Lee, Chairman of Bitmine

“Over the past week, we acquired 8,573 ETH. Bitmine's track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each 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 $415 million on an annualized basis (using 3.03% 7-day BMNR yield). This compares to annualized staking revenues at $358 million based upon 5.2 million staked ETH (86% of the 6.06 million ETH held by Bitmine)”