Bitmine Buys 12,532 ETH, Holdings Near 5% Supply; Tom Lee Calls It Biggest Bull Market Ever

Bitmine Boosts Ethereum Holdings, Nears 5% of Global Supply

New York, NY – October 12, 2026 – Bitmine (NYSE: BMNR), a publicly traded company on the New York Stock Exchange, announced on October 12th its latest asset holdings and a chairman’s report, revealing a significant increase in its Ethereum (ETH) reserves. The company acquired an additional 12,532 ETH in the past week, pushing its total holdings to approximately 6.028 million ETH, valued at over $15.3 billion. This substantial accumulation now represents nearly 5% of Ethereum’s total global supply.

Record-Breaking Accumulation Strategy

Bitmine, recognized as the world’s largest corporate holder of Ethereum, released its weekly holdings transparency report on October 12th. On-chain and official data confirm that Bitmine purchased 12,532 ETH within the last seven days. This consistent acquisition strategy, initiated at the end of June 2025, marks the most continuous record of asset purchases by a publicly listed company on a weekly basis globally.

As of October 12, 2026, Bitmine’s total digital assets and “Moonshots” portfolio are valued at approximately $16.2 billion, solidifying its position as the leading institutional holder of Ethereum reserves worldwide.

A social media post from Bitmine on October 12, 2026, detailed the holdings: “$16.2 billion in total crypto + ‘moonshots’: – 6,028,946 ETH at $2,544 per ETH (per @coinbase ) – 214 Bitcoin (BTC) – $180 million stake in Beast Industries @MrBeast – $85 million stake in Eightco Holdings…”

Detailed Asset Breakdown

According to Bitmine’s comprehensive list of holdings, the company currently possesses:

• Ethereum (ETH): 6,028,946 tokens
• Bitcoin (BTC): 214 coins
• Beast Industries: $180 million stake
• Eightco Holdings: $85 million stake

Strategic Growth and Staking Operations

Tom Lee, Chairman of Bitmine’s Board and founder of Fundstrat, highlighted the company’s rapid expansion over the past 15 months. This period saw Bitmine’s listing on the NYSE and inclusion in the Russell 1000 index. Furthermore, through the establishment of its MAVAN staking service, Bitmine has become the world’s largest single ETH staking operator and has cultivated a strong partnership with Ethereum Foundation 2.0.

Beyond accumulating spot assets, Bitmine generates substantial passive income by operating Ethereum validator nodes. As of October 11th, the company has staked 5,067,309 ETH, representing approximately 84% of its total holdings and valued at roughly $12.9 billion. This makes Bitmine the single largest entity globally in terms of staked ETH.

At the current 7-day annualized yield of 2.61%, its existing staked assets are projected to generate approximately $336 million in staking rewards annually. If the company achieves 100% staking of its ETH holdings, the annualized staking income is estimated to reach around $400 million, providing a robust and stable cash flow.

Preferred Stock Performance and Market Confidence

The company’s 9.5% perpetual preferred stock ($BMNP), issued in June of this year at $80 per share, has recently seen its closing price rise to $99.53, an increase of approximately 24%. This performance significantly outpaces the 8% decline in long-term U.S. Treasury bonds (TLT) over the same period. Tom Lee noted that the $BMNP’s yield of approximately 9.56% is lower than comparable Bitcoin credit securities ($STRC), indicating strong market confidence in Ethereum staking yields and asset stability.

Optimistic Outlook for Crypto Market

In a concurrent report titled “Crypto Bull Underway — This Cycle Likely the Largest,” Tom Lee expressed an extremely optimistic outlook for the cryptocurrency market. He identified four key drivers fueling the current bull cycle: asset tokenization, large-scale wealth transfer, the absorption of market supply by Digital Asset Treasuries (DATs), and the role of cryptocurrencies as a settlement backbone for the downstream AI industry.

Regarding wealth transfer, Lee cited data indicating that between 2026 and 2028, an estimated $1.5 to $2.0 trillion in global wealth will transition to younger generations. Given the younger demographic’s higher acceptance of cryptocurrencies and risk assets, this wealth effect is expected to be more pronounced than in the 2019-2021 cycle. Concurrently, Digital Asset Treasuries like Bitmine are continuously locking up significant market liquidity, laying a solid foundation for potential price surges.