Bitmine Immersion Technologies said its crypto holdings, cash, marketable securities and early-stage investments were worth $17.1 billion as of Sept. 20, 2026. The company held 5,983,940 ETH at $2,688 per token, representing 4.9% of the 122.1 million ETH supply, alongside 212 Bitcoin, a $180 million stake in Beast Industries, a $105 million investment in Eightco Holdings and $714 million in cash and marketable securities. Bitmine said it has reached 98% of the way toward its Alchemy of 5% goal after 15 months and has bought ETH every week since launching its treasury strategy on June 30, 2025. It acquired 27,562 ETH in the latest week. The company reported 5,067,309 ETH staked (locked to support the network and earn rewards), valued at $13.6 billion, with annualized staking revenue estimated at $357 million and full-operation rewards projected at $421 million. MAVAN (Made in America VAlidator Network), Bitmine's institutional staking platform, supports the company's treasury and outside institutions, custodians and ecosystem partners. Chairman Thomas "Tom" Lee said ETH had outperformed other macro assets by 6,519 basis points in the third quarter of 2026 and argued that institutional investors could increase crypto exposure in the fourth quarter. Lee is scheduled to deliver the keynote at Korea Blockchain Week 2026 in Seoul on Sept. 30. Bitmine said it remained the world's largest ETH treasury and ranked second globally among crypto treasuries behind Strategy Inc.