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COIN

Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.78 Million Tokens, and Total Crypto and Total Cash Holdings of $11.5 Billion

Bitmine expands ETH treasury, staking network MAVAN, and initiates $4B buyback

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>As of July 19, 2026, Bitmine reports about 5.78 million ETH valued at roughly $9.2B and 4.9 million ETH staked via MAVAN, with projected annual staking revenue up to $290 million. The company also disclosed a $4B share-repurchase program and Russell 1000 Large-cap inclusion, signaling strong institutional support and a scalable ETH treasury strategy. These developments could bolster ETH demand and crypto sentiment that COIN tracks, offering an indirect influence on Coinbase shares in the near term.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Bitmine holds 5,777,468 ETH, worth about $9.2B at $1,879/ETH.</li><li>Bitmine owns 4.8% of total ETH supply (120.7M).</li><li>4.917M ETH staked; MAVAN launched; projected annual staking revenue $247M, $290M fully.</li><li>Repurchased 5.5M shares in the past week; avg price $15.62; under $4B buyback.</li><li>Added to Russell 1000 Large-cap index on June 26, 2026.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Bitmine Immersion Technologies, Inc. (BMNR)</strong>: Primary issuer; reports ETH treasury expansion, MAVAN staking, and a $4B buyback; Russell inclusion.</li><li><strong>Coinbase Global, Inc. (COIN)</strong>: ETH price reference used in Bitmine&#039;s disclosures; indirect price-feed linkage to COIN.</li><li><strong>Eightco Holdings (ORBS)</strong>: BMNR stake ($58M) provides indirect exposure to OpenAI via the asset; supports diversified crypto treasury.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The release centers on treasury strategy, staking infrastructure (MAVAN), and capital allocation (buybacks) rather than quarterly results, fitting a corporate-financial-update lens within the crypto ecosystem.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>BMNR holds 4.8% of total ETH supply, signaling meaningful ETH demand.</li><li>ETH price reference used: $1,879 per ETH (Coinbase data).</li><li>Total holdings reach $11.5B including ORBS and other stakes.</li><li>Russell 1000 inclusion on June 26, 2026 could boost liquidity.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>As of July 19, 2026, Bitmine holds 5,777,468 ETH valued at $9.2B ($1,879/ETH).</li><li>BMNR ETH holdings equal 4.8% of the 120.7M ETH supply.</li><li>Total crypto+c ash+moonshots holdings: $11.5B.</li><li>5.5M shares repurchased in the past week; avg price $15.6156; under $4B buyback.</li><li>June 26, 2026: Bitmine added to Russell 1000 Large-cap index.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>COIN may see indirect upside if Bitmine&#039;s ETH treasury expansion lifts crypto sentiment in the next 1–3 months.</p>
  </section>
</section>


<article>
  <header>
    <h2>Bitmine Immersion Technologies (BMNR) Reports ETH Holdings at 5.78 Million Tokens and Total Holdings at $11.5 Billion, with MAVAN Staking Progress</h2>
  </header>

  <p>
    Bitmine Immersion Technologies, Inc. (BMNR) today announced that its crypto holdings, total cash and marketable securities, and “moonshots” holdings total <strong>$11.5 billion</strong>. The update underscores a substantial ETH position and strategic stakes, bolstered by a disciplined share repurchase program and a growing staking platform. This release cites ETH holdings at 5.78 million tokens, alongside other digital assets and cash allocations.
  </p>

  <section>
    <h3>Current Holdings Snapshot</h3>
    <p>
      As of July 19, 2026 at 8:30pm ET, the Company’s crypto holdings are comprised of <strong>5,777,468</strong> ETH at <strong>$1,879</strong> per ETH (per Coinbase NASDAQ: <strong>COIN</strong>), 207 Bitcoin (BTC), a <strong>$180 million</strong> stake in Beast Industries, a <strong>$58 million</strong> stake in Eightco Holdings (NASDAQ: <strong>ORBS</strong>) (“moonshots”) and total cash & marketable securities of <strong>$385 million</strong>. Bitmine’s ETH holdings are <strong>4.8%</strong> of the ETH supply (of <strong>120.7 million</strong> ETH).
    </p>

    <ul>
      <li><strong>ETH holdings</strong>: 5,777,468 ETH</li>
      <li><strong>ETH share of supply</strong>: 4.8% of the ETH supply (120.7 million ETH)</li>
      <li><strong>BTC holdings</strong>: 207 BTC</li>
      <li><strong>Beast Industries stake</strong>: $180 million</li>
      <li><strong>Eightco stake</strong>: $58 million</li>
      <li><strong>Cash & marketable securities</strong>: $385 million</li>
      <li><strong>Total crypto + cash + moonshots</strong>: $11.5 billion</li>
    </ul>
  </section>

  <section>
    <h3>ETH Treasury Strategy and Staking Platform</h3>
    <p>
      Bitmine’s ETH holdings are described as a core component of the company’s long-term crypto strategy, with a portion already staked through MAVAN (Made in American Validator Network), Bitmine’s Ethereum staking platform designed for institutional investors, custodians, and ecosystem partners.
    </p>
    <p>
      As of July 19, 2026, total staked ETH stands at <strong>4,917,189</strong> (equivalent to <strong>$9.2 billion</strong> at <strong>$1,879</strong> per ETH). <em>“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 is $290 million on an annualized basis (using 2.67% 7-day BMNR yield),”</em> stated Lee.
    </p>

    <p>
      MAVAN is described as a premier Ethereum staking destination for BMNR and institutional investors, with a portion of Bitmine’s ETH already staked on the MAVAN platform.
    </p>

    <ul>
      <li>Projected annual staking reward: <strong>$290 million</strong> (at 2.67% 7-day BMNR yield)</li>
      <li>Staking platform: <em>MAVAN</em> (Made in American Validator Network)</li>
      <li>ETH total staked (as of July 19, 2026): <strong>4,917,189</strong></li>
    </ul>
  </section>

  <section>
    <h3>Stock Activity and Corporate Updates</h3>
    <p>
      Bitmine repurchased <strong>approximately 5.5 million shares</strong> of common stock in the past week at an average price of <strong>$15.6156</strong>. “We view the purchase of our common shares as accretive to shareholder value,” stated Thomas “Tom” Lee, Chairman of Bitmine.
    </p>
    <p>
      The repurchases were executed under the previously announced <strong>$4 billion</strong> share repurchase program.
    </p>
    <p>
      <em>“Over the past week, we acquired 7,430 ETH. The reduced pace of buys reflects that Bitmine repurchased 5.5 million common shares. Bitmine has bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025,”</em> stated Lee.
    </p>

    <p>
      On <strong>July 16, 2026</strong>, Bitmine released the latest Chairman’s Message for July 2026. The title of the Message is <em>“ETH is the cure for the Uncanny Valley of Wealth.”</em>
    </p>

    <p>
      Earlier in 2026, Bitmine launched MAVAN, the institutional-grade staking platform, with plans to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine’s ETH is already staked on the MAVAN platform.
    </p>

    <p>
      As of July 19, 2026, Bitmine total assets include crypto holdings and cash & marketable securities totaling <strong>$11.5 billion</strong>, including <strong>5.78 million ETH</strong> tokens, <strong>207 BTC</strong>, a <strong>$180 million</strong> stake in Beast Industries, a <strong>$58 million</strong> stake in Eightco Holdings, and <strong>$385 million</strong> in cash & marketable securities.
    </p>
  </section>

  <section>
    <h3>Facts at a Glance</h3>
    <ul>
      <li>ETH holdings: 5,777,468 ETH valued at $1,879 per ETH</li>
      <li>ETH supply representation: 4.8% of the 120.7 million ETH supply</li>
      <li>Total crypto + cash + moonshots: $11.5 billion</li>
      <li>Cash & marketable securities: $385 million</li>
      <li>BTC holdings: 207 BTC</li>
      <li>Moonshots: $58 million Eightco stake; $180 million Beast Industries stake</li>
      <li>Share repurchases: ~5.5 million shares at $15.6156 average price</li>
      <li>MAVAN staking platform and projected revenues: $290 million annualized (ETH staking) at indicated yield</li>
    </ul>
  </section>

  <figure>
    <img src="https://mmx.prnewswire.com/media/MS1885287/1-Bitmine-Weekly-Update.jpg?id=OA2770106" alt="Bitmine Weekly Update" title="Bitmine Weekly Update" />
  </figure>

  <p>
    NORWALK, Conn., July 20, 2026 /CNW/ -- (NYSE: <strong>BMNR</strong>) Bitmine Immersion Technologies, Inc. (“Bitmine” or the “Company”) a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + “moonshots” holdings totaling <strong>$11.5 billion</strong>.
  </p>

  <p>
    As referenced in the update, Bitmine continues to attract high-profile institutional support, including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and investor Thomas “Tom” Lee to back the Company’s objective of acquiring 5% of ETH.
  </p>

  <p>
    The press materials include Coinbase’s COIN reference for ETH pricing and the broader crypto context, reinforcing the Company’s emphasis on Ethereum-based strategies and digital asset diversification.
  </p>
</article>

As of July 19, 2026, Bitmine reports about 5.78 million ETH valued at roughly $9.2B and 4.9 million ETH staked via MAVAN, with projected annual staking revenue up to $290 million. The company also disclosed a $4B share-repurchase program and Russell 1000 Large-cap inclusion, signaling strong institutional support and a scalable ETH treasury strategy. These developments could bolster ETH demand and crypto sentiment that COIN tracks, offering an indirect influence on Coinbase shares in the near term.

Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.78 Million Tokens, and Total Crypto and Total Cash Holdings of $11.5 Billion

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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