Bitmine expands Ethereum treasury to 6.06 million ETH as Tom Lee downplays Binance hack
Bitmine Immersion Technologies acquired 8,573 ETH over the past week, lifting its total reserves to over 6.06 million ETH as chairman Tom Lee praised crypto market resilience following the Binance theft.
Bitmine Immersion Technologies added 8,573 ETH to its corporate treasury in the week ending Nov. 1, bringing its total holdings to 6,060,506 ETH. The latest purchase represents the company's smallest weekly addition in recent updates, down from 10,452 ETH the previous week, but pushes the firm to approximately 4.9% of Ethereum's total supply. According to calculations reported by Unchained, Bitmine is now roughly 49,500 ETH away from reaching its stated goal of holding 5% of circulating ether.[1][2][3][4][5][8][9][10]
The company disclosed that 5,227,037 ETH of its stash is actively staked, worth approximately $11.8 billion at the $2,261 Coinbase reference price logged on Nov. 1. Bitmine's combined portfolio of cryptocurrency, cash, and other investments was valued at $14.5 billion, declining from about $15 billion a week earlier amid softer ether prices. Beyond its Ethereum position, Bitmine reported $498 million in cash and marketable securities, 216 BTC, a $180 million stake in Beast Industries, and an $82 million holding in Eightco Holdings.[1][4][9][10][11]
Bitmine chairman Tom Lee also addressed the broader market landscape following a $6.3 billion theft from Binance hot wallets, characterizing the sector's reaction as constructive and bullish. Lee noted that ether dropped about 4% following news of the breach, a much calmer reaction than the steep declines seen after the February 2025 Bybit exploit. He cited six factors supporting market composure, including Binance's ability to cover user losses, the absence of decentralized finance contagion, and the fact that the incident compromised exchange infrastructure rather than underlying blockchain protocols.[5][6][7][10]
Key facts
- Bitmine acquired 8,573 ETH in the week ending Nov. 1, bringing its total treasury to 6,060,506 ETH.
- Bitmine's ether holdings represent about 4.9% of Ethereum's circulating supply, leaving it roughly 49,500 ETH short of its 5% target.
- The company reported 5,227,037 staked ETH, valued at $11.8 billion based on a reference price of $2,261 per ether on Nov. 1.
- Total assets across crypto, cash, and other investments stood at $14.5 billion, down from roughly $15 billion the prior week.
- Bitmine's non-ETH holdings include $498 million in cash and marketable securities, 216 BTC, a $180 million stake in Beast Industries, and an $82 million stake in Eightco Holdings.
- Chairman Tom Lee labeled the market's 4% drop after the $6.3 billion Binance theft constructive, calling it evidence of growing resilience across the crypto industry.
Sources · 11 sources
- LS
Laura Shin@laurashinPost on X ·
Bitmine's combined crypto, cash and stakes are now valued at $14.5 billion, down from about $15 billion a week ago, as ether fell to $2,261. Tom Lee's company needs roughly 49,500 more ETH to own 5% of the supply. https://t.co/1W4gMfP37q
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 JUST IN: Bitmine bought 8,573 $ETH last week, bringing its total holdings to 6,060,506 ETH. https://t.co/LtqAEd3B3p
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
JUST IN: 💰 Tom Lee's Bitmine bought 8,573 ETH last week, bringing its total holdings to 6.06M ETH, or 4.9% of the total Ethereum supply. https://t.co/bM6vlIy9wn
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
BitMine Adds 8,573 ETH, Holdings Reach 6.06M ETH BitMine said it acquired 8,573 ETH over the past week, bringing total holdings to 6,060,506 ETH, or about 4.9% of Ethereum’s supply. The company has 5,227,037 ETH staked, while total crypto, cash, marketable securities and other investments stand at about $14.5 billion, including $498 million in cash and marketable securities.
Open source - TB
The BlockArticle ·
Bitmine adds 8,573 ETH as Tom Lee flags muted Binance hack reaction Bitmine added 8,573 ETH last week, lifting holdings to 6.06 million ETH, as Tom Lee flagged muted market response to Binance's hack.
Open source - DE
Decrypt@DecryptMediaPost on X ·
Bitmine Buys More Ethereum as Tom Lee Calls the Binance Hack Bullish https://t.co/ZqJ11VdTk2
Open source - DE
DecryptArticle ·
Bitmine Buys More Ethereum as Tom Lee Calls the Binance Hack Bullish The chairman laid out six reasons the market’s “muted” 4% ETH drop after the record Binance theft shows crypto is “increasingly resilient,” as the firm’s stash neared its 5% supply goal.
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨BITMINE BUYS ANOTHER 8,573 ETH AS HOLDINGS HIT 6.06 MILLION! @BitMNR acquired 8,573 ethereum:native over the past week, lifting total holdings to 6,060,506 tokens as of November 1. That puts them at 4.9% of the total ethereum:native supply and 99% of the way to their 5% “Alchemy of 5%” target. They’ve bought ethereum:native every single week since launching the treasury strategy on June 30, 2025. Total crypto, cash & marketable securities and moonshots now sit at $14.5B.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Tom Lee's Bitmine $BMNR acquired 8,573 ethereum:native over the past week, bringing its holdings to 6.06 million ETH. The company said it holds 4.9% of Ethereum's circulating supply, with 5.23 million ETH staked and total crypto, cash, and other investments valued at $14.5 billion.
Open source - UN
UnchainedArticle ·
Bitmine Slows to 8,573 ETH Buy as Tom Lee Downplays Binance Hack Bitmine Immersion Technologies bought 8,573 ETH in the week through Nov. 1, taking its ether stash to 6,060,506 ETH , the company announced on Monday. The purchase is the smallest in Bitmine’s recent weekly updates, down from the 10,452 ETH it disclosed a week earlier and from buys of 12,535 ETH and 15,112 ETH this fall. The combined value of Bitmine’s crypto, cash and “moonshot” stakes dropped to $14.5 billion , compared with about $15 billion in the prior update. The company priced ether at $2,261 on Coinbase as of 4 p.m. ET on Nov. 1, roughly 4% below the $2,356 it used a week before. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Closing In on 5% Bitmine said its ether amounts to 4.9% of the 122.2 million ETH supply. By Unchained’s calculation, the company is now about 49,500 ETH short of its goal of holding 5% of that supply, down from about 58,000 ETH a week ago. Outside of ether, Bitmine reported 216 BTC, a $180 million stake in Beast Industries and an $82 million stake in Eightco Holdings. Its cash and marketable securities came to $498 million, down from $514 million in the previous update. The company said 5,227,037 of its ETH is staked, worth $11.8 billion at the Nov. 1 price. Chairman Tom Lee projected that once all of Bitmine’s ether is staked, it would earn $415 million a year at a 3.03% seven-day yield, against $358 million a year on the 5.2 million ETH staked now. Lee on the Binance Hack Lee also used the update to weigh in on the Binance theft , which saw $6.3 billion taken from hot wallets and has been linked to North Korea. In Lee’s view, “the relatively muted crypto market reaction is very constructive, particularly compared to the market’s response to prior sizable crypto thefts.” He pointed to the February 2025 ByBit hack, which saw $1.5 billion taken, and ETH drop 8% on the day it was announced and 20% over the following week. “Since the Binance theft was disclosed, ETH went down 4%,” Lee said in the release. He gave six reasons for the calmer response, among them that Binance can cover all customer losses, that no string of DeFi protocol failures followed, and that the breach targeted Binance’s infrastructure rather than a blockchain. Taken together, Lee said in the same statement, “this is a sign that the crypto industry is increasingly resilient and more capable of absorbing these nation-state assaults on financial infrastructure.” Related Listen: ETH Is Soaring and Close to ATHs. How Long Will the Rally Continue? The post Bitmine Slows to 8,573 ETH Buy as Tom Lee Downplays Binance Hack appeared first on Unchained .
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
⚡️NEW: Bitmine acquired 8,573 ethereum:native in a week and reported 5.2 million staked ETH worth approximately $11.8 billion. https://t.co/97wZmN16tI
Open source