Key Highlights

● BitMine held 6.03 million ETH, roughly 4.9% of supply, in a 13 October update.

● Total crypto, cash and marketable securities were US$16.2 billion as of 11 October.

● Holdings rose only from 6.02 million ETH on 4 October, showing slower accumulation.

● Chairman Tom Lee said around 8 October the company would stop buying Ethereum.

Latest development: a treasury close to 5% of supply

BitMine Immersion Technologies, Inc. (NYSE American:BMNR), which has turned from Bitcoin Mining to holding Ethereum as a treasury asset, reported a holdings update on 13 October 2026. The company held 6.03 million ETH, roughly 4.9% of a 122.1 million ETH supply, and total crypto, cash and marketable securities of US$16.2 billion as of 11 October.

Earlier updates showed holdings of 5.93 million ETH on 8 September and 6.02 million on 4 October, so accumulation has slowed sharply.

Why it matters

A company holding almost one-twentieth of a large crypto asset is effectively a leveraged-to-price proxy for it, and its Balance Sheet moves with the Ether price.

The company has expanded from bitcoin mining into digital asset treasury activities, with an emphasis on acquiring and holding Ethereum. The scale involved is large relative to operating revenue, which stands at US$61.2 million on a trailing basis, so the Business is defined by its holdings rather than its operations.

Buying pace

Chairman Tom Lee said around 8 October that the company would stop buying Ethereum. The small rise in holdings from 6.02 million ETH on 4 October to 6.03 million is consistent with a pause rather than a verified halt.

Regulation has also been a Factor in the crypto backdrop: the US Senate failed to advance crypto legislation around 15 September.

Reported results

BitMine's Quarterly Report was published on 1 September. It showed trailing revenue of US$61.2 million, a net loss of US$8.77 billion and a loss per share of US$24.68. Large losses are consistent with marked-to-market treatment of digital Assets when prices fall, and the exact figures are set out in the company's filings with the US Securities and Exchange Commission.

Ethereum holdings and the 5% Supply mark

Weekly holdings updates show whether BitMine adds any further ETH after the pace slowed from 5.93 million ETH in early September to 6.03 million in mid-October. At 4.9% of supply, the holding sits just under the 5% threshold that headlines have highlighted.

The stalled Senate legislation remains part of the regulatory backdrop for digital assets, and any change in how the company funds its purchases would be a further signal of how long the pause lasts.