BitMine adds 9,587 ETH to reach nearly 5% of Ethereum supply
BitMine Immersion Technologies acquired 9,587 ether in the past week, lifting its total reserves to 6.07 million ETH, or roughly 4.97% of Ethereum's total supply.
BitMine Immersion Technologies bought 9,587 ETH over the past week in an acquisition valued at around $20 million, according to company disclosures. The purchase brings BitMine's total ether holdings to 6,070,092 tokens, representing about 4.97% of Ethereum's 122.2 million token supply. That leaves the firm roughly 39,900 to 40,000 ETH short of the 5% threshold established by Chairman Tom Lee, who has previously affirmed he will not accumulate beyond that mark.[3][5][6][7][8][9]
The company reported total assets across cryptocurrencies, cash, and equity investments of about $14.3 billion as of Nov. 8. Alongside its ether holdings, the balance sheet includes 216 bitcoin, $475 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $75 million stake in Eightco Holdings. BitMine has staked 5,227,037 ETH—roughly 86% of its ether stash, valued at about $11.7 billion—partly running across its institutional validator network, MAVAN. Staked coins are producing approximately $309 million in annualized rewards, while fully staking the entire reserve could yield about $359 million per year at a trailing seven-day yield of 2.65%.[3][4][7]
Lee linked the accumulation strategy to recent comments by Ethereum co-founder Vitalik Buterin at Devcon 8 in Mumbai stating that ETH is a store of value and money. Calling the statement a seismic shift, Lee said ether's role as trusted collateral aligns with Ethereum's roadmap in an expected supercycle of tokenization and artificial intelligence.[3][9][10]
Key facts
- BitMine Immersion Technologies bought 9,587 ETH over the past week for roughly $20 million.
- BitMine holds 6,070,092 ETH, representing about 4.97% of Ethereum's total token supply.
- The company is approximately 39,900 to 40,000 ETH short of Chairman Tom Lee's 5% target cap.
- BitMine has staked 5,227,037 ETH worth roughly $11.7 billion, generating approximately $309 million in annualized rewards.
- Fully staking BitMine's ether holdings would yield an estimated $359 million annually based on a 2.65% trailing seven-day staking yield.
- BitMine reported total balance-sheet assets of $14.3 billion as of Nov. 8, including ether, 216 BTC, $475 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings.
Sources · 10 sources
- CO
CoinGecko@coingeckoPost on X ·
JUST IN: BitMine Immersion purchases another 9,587 Ethereum, now holds 4.97% of $ETH's total supply. https://t.co/Zz4NRXbmtg
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 UPDATE: Bitmine bought 9,587 ETH last week and now holds 4.97% of Ethereum’s supply. https://t.co/SsFs4MZ54Q
Open source - UN
UnchainedArticle ·
Bitmine Gets Within About 40,000 ETH of Tom Lee’s 5% Target After Another Week of Buying Bitmine Immersion Technologies (BMNR) added 9,587 ETH over the past week, bringing its stack to 6,070,092 ETH , or 4.97% of Ethereum’s 122.2 million token supply, the company said on Monday . By Unchained’s math, 5% of the ETH supply comes to 6.11 million ETH. That leaves Bitmine roughly 39,900 ETH short of chairman Tom Lee’s goal, or about $89 million at the $2,234 per-token price the company used. At last week’s pace, the remaining amount would take a little over four weeks to buy. Lee has framed the 5% mark as a stopping point. “Tom Lee said he won’t hold more than 5% of ETH supply. Currently he holds about 4.9%. That could have some implications,” host Austin Campbell said on Unchained’s Bits + Bips in October, recapping Lee’s comments at the Token2049 conference. Co-host Chris Perkins , who said he shared a panel with Lee there, recalled Lee saying, “I’m not gonna go above 5%.” Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . $14.3 Billion on the Books Bitmine put its total holdings at $14.3 billion as of 2 p.m. ET on Nov. 8. Besides the ETH, that figure includes 216 BTC, $475 million in cash and marketable securities, and two equity bets the company calls “moonshots”: a $180 million stake in Beast Industries and a $75 million stake in Eightco Holdings (ORBS). Of its ETH, Bitmine said 5,227,037 tokens, worth about $11.7 billion, are staked, roughly 86% of the total. Part of that runs on MAVAN (Made in America VAlidator Network), a staking platform the company launched earlier this year and has opened to institutional clients. Lee said staking all of its ETH would earn about $359 million a year at Bitmine’s trailing seven-day yield of 2.65%, compared with about $309 million on what is staked now. ‘ETH Is Money’ Lee in Monday’s statement also pointed to a remark by Ethereum co-founder Vitalik Buterin at Devcon 8, the Ethereum developer conference held in Mumbai, that “ETH is a store of value, ETH is money.” Lee called it “a seismic shift, clarifying how ETH will capture value in this coming supercycle of tokenization and AI.” In Lee’s view, ETH is not a “‘cash flow’ token model” but “pristine and trusted collateral.” He added that a store-of-value role “is most consistent with the future roadmap of ETH and also the role ETH will play in the coming super tokenization supercycle.” Related Listen: Vitalik Finally Says ETH Matters. Zak Cole: ‘Should Have Said That 5 Years Ago’ The post Bitmine Gets Within About 40,000 ETH of Tom Lee’s 5% Target After Another Week of Buying appeared first on Unchained .
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨BITMINE BOUGHT 9,587 ETH LAST WEEK! $BMNR continues its weekly stacking, acquired 9,587 ethereum:native between Nov 2-8. Total holdings now 6.07 million ethereum:native (4.97% of supply), valued at ~$13.6B. Overall crypto, cash and securities anf moonshots stand at $14.3B. 5.23M ethereum:native staked (~86%), generating ~$309M annualized rewards. Largest ethereum:native treasury in the world still buying every week since June 2025.
Open source - TB
The BlockArticle ·
Tom Lee’s Bitmine nears 5% Ethereum supply target with $20 million ETH buy as he predicts tokenization and AI ‘supercycle’ Bitmine bought another 9,587 ETH last week, closing in on its target of 5% of Ethereum's circulating supply.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Tom Lee's Bitmine $BMNR acquired another 9,587 ETH last week, bringing its total holdings to 6.07 million ETH, or 4.97% of Ethereum's circulating supply. The company is now just shy of its target to own 5% of all ethereum:native, with 5.23 million ether worth approximately $11.7 billion currently staked.
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
BitMine Nears 5% of ETH Supply After Adding 9,587 ETH BitMine said it acquired 9,587 ETH over the past week, bringing total holdings to 6,070,092 ETH, or about 4.97% of Ethereum’s supply. The company has 5,227,037 ETH staked and said fully staking its ETH holdings could generate about $359 million in annualized rewards at its trailing seven-day staking yield of 2.65%. Total crypto, cash, marketable securities and other investments stand at about $14.3 billion.
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: 💰 Bitmine acquired 9,587 ETH over the past week, bringing its total holdings to 6.07M ETH, now representing 4.97% of the total Ethereum supply. This puts it just ~40,000 coins away from its goal of owning 5% of the ETH supply. https://t.co/Kt50Wo0dM4
Open source - DE
DecryptArticle ·
Tom Lee’s Bitmine Adds $20M in Ethereum, Seizing on Vitalik’s 'ETH Is Money' Declaration The firm’s stash reached 6.07 million ETH—4.97% of supply and 99% of the way to its “Alchemy of 5%” goal—as chairman Tom Lee called Vitalik Buterin’s “ETH is money” comments a “seismic shift.”
Open source - BC
Bitcoin.com News@BitcoinNewsPost on X ·
JUST IN: 🔷 Bitmine now holds 6.07M$ ETH, 4.97% of supply, closing in on its 5% target, as Chairman Tom Lee highlights Vitalik Buterin's Devcon declaration that $ETH is a "store of value." 📊 5.2M ETH staked ($11.7B) backs @fundstrat 's thesis of ETH as trusted collateral. https://t.co/91gHvoMwoD
Open source