New York, Feb 9, 2026, 15:00 ET — Regular session
- BMNR climbed roughly 5.6% in the afternoon, following a volatile start earlier in the session.
- The company is holding roughly 4.326 million ether alongside $595 million in cash.
- A different SEC filing puts 15.4 million shares on the books for an employee incentive plan.
Bitmine Immersion Technologies shares climbed 5.6% to $21.62 by Monday afternoon, moving in a range from $19.36 up to $21.63. The company reported total crypto and cash holdings now stand at $10.0 billion. 1
This shift is significant: BMNR now acts as a listed Ethereum balance sheet. Liquidity draws traders, who use the stock as a quick ether proxy—though with the added twist of corporate management layered in.
Bitmine reported holding 4,325,738 ether as of Feb. 8 at 3 p.m. ET, valuing the stash at $2,125 per token. The balance sheet also lists $595 million in cash, 193 bitcoin, and venture investments—a $200 million bet on Beast Industries, $19 million in Eightco Holdings. “In the past week, we acquired 40,613 ETH,” executive chairman Thomas “Tom” Lee said. According to the company, that brings its ether holdings to roughly 3.58% of Ethereum’s overall supply. Bitmine also drew a comparison to Strategy Inc, which it says owns 713,502 bitcoin.
The company reported around 2.9 million ether staked—tokens set aside to help validate network transactions, with rewards in return. Bitmine expects annual staking rewards to hit about $374 million once its ether is fully put to work. “Bitmine has staked more ETH than other entities in the world,” Lee said in the statement. The release also highlighted plans for a first-quarter debut of its Made in America Validator Network, or MAVAN. 2
Ether ticked up roughly 0.2% to $2,129. Bitcoin slipped—down around 0.7%—trading near $70,900.
The company posted the disclosure on Monday in a Form 8-K with the U.S. Securities and Exchange Commission, tapping Regulation FD to get the material out to the public. Chief executive Chi Tsang put his name on the filing.
Bitmine, in another SEC filing, registered 15.4 million shares tied to its 2025 omnibus incentive plan—a move that could boost the share count as awards vest or get exercised. The company used an estimated $22.07 per share in the filing fee table to work out the registration fee.
That combination — hefty crypto reserves, staking revenues, and the risk of dilution — is the play for certain investors. On slow crypto days, the stock often moves like a levered ether bet, but when filings land, it can chart its own course.
The catch? If ether drops again, Bitmine’s reported holdings take a hit. Staking yields move around depending on the network, and fresh share issuance from equity plans could still drag—even if crypto prices manage to stay steady.
The real question now is whether Bitmine sticks with last week’s aggressive buying and if MAVAN shows up in Q1, as Monday’s release suggested. 3
