Key facts
- BitMine held 6,070,092 ETH as of November 8, equal to 4.97% of Ethereum's reported total supply.
- BitMine valued its Ethereum at $2,234 per token using Coinbase market data.
- BitMine reported 5,227,037 staked ETH, about 86% of holdings, worth roughly $11.7 billion at its reference price.
- BitMine estimates $309 million in annual staking rewards at its 2.65% seven-day staking yield.
- Chairman Tom Lee said BitMine has bought Ethereum every week since the strategy began on June 30, 2025.
- BitMine reported $475 million in cash and marketable securities and 216 Bitcoin alongside its ETH.
BitMine Immersion Technologies said in a November 9 statement that it bought 9,587 ETH during the past week, raising its Ethereum holdings to 6,070,092 tokens as of November 8. That equals 4.97% of Ethereum's reported total supply, moving the company closer to its 5% target.
The company put its combined crypto assets, cash, marketable securities and other investments at $14.3 billion. It valued its Ethereum at $2,234 per token using Coinbase market data, and reported 216 Bitcoin alongside $475 million in cash and marketable securities. Its portfolio also includes a $180 million stake in Beast Industries and $75 million in Eightco Holdings.
BitMine reported 5,227,037 staked ETH, worth about $11.7 billion at its November 8 reference price, or nearly 86% of its holdings. The company estimates annual rewards of $309 million at its seven-day staking yield of 2.65%, recorded on November 8. Chairman Tom Lee expects staking income could reach $359 million a year once the remaining ETH is staked.
Lee said BitMine has purchased Ethereum every week since launching its treasury accumulation strategy on June 30, 2025. He also discussed comments by Ethereum co-founder Vitalik Buterin at Devcon 8, where Buterin described ETH as "a store of value" and "money", arguing that Ethereum's collateral properties could support institutional adoption.
BitMine describes itself as the largest corporate Ethereum treasury and says Strategy leads global corporate crypto holdings with 849,327 Bitcoin.