BitMine's Ethereum Holdings Reach 6.07 Million ETH, Accounting for 4.97% of Total Supply

Shenchao TechFlow reported that on November 9, BitMine Immersion Technologies (NYSE: BMNR) disclosed its latest holdings: as of 14:00 ET on November 8, the company held 6,070,092 ETH (about $13.56 billion at $2,234), 216 BTC, plus $180 million in Beast Industries equity, $75 million in Eightco (NASDAQ: ORBS) equity, and $475 million in cash and securities, bringing total crypto assets, cash, and 'moonshot' investments to about $14.3 billion. Its ETH holdings account for 4.97% of the 122.2 million total supply, and the company said it is 99% complete toward its '5% Alchemy' target.

Last week, BitMine purchased another 9,587 ETH, continuing to add to its position every week since launching its ETH treasury strategy on June 30, 2025. The company has staked 5,227,037 ETH (about $11.7 billion, or 86% of its holdings). Based on the 7-day average yield of 2.65% as of November 8, current annualized staking rewards are approximately $309 million; if all holdings were staked through the MAVAN platform and its partners, annualized rewards could reach an estimated $359 million.

Chairman Tom Lee cited Ethereum founder Vitalik Buterin's remarks at Devcon 8 in Mumbai: 'I have finally decided that ETH is a store of value, and ETH is money,' calling it an 'earthquake-level shift.' He believes ETH is not a cash-flow token like HYPE or LIT, but a trusted, high-quality collateral, which is also why Ethereum has become the preferred Layer 1 for most financial institutions going on-chain. BitMine is currently the largest ETH treasury in the world and the second-largest crypto treasury overall, behind Strategy, which holds 849,327 BTC (about $69 billion).

Source: Shenchao TechFlow