BitMine's Ethereum holdings reached 6.07 million, accounting for 4.97% of the total supply.

On November 9, BitMine Immersion Technologies (NYSE: BMNR) disclosed its latest holdings: as of 14:00 ET on November 8, the company holds 6,070,092 ETH (approximately $13.56 billion at $2,234 per token) and 216 BTC, alongside $180 million in equity stakes in Beast Industries, a $75 million position in Eightco (NASDAQ: ORBS), and $475 million in cash and securities, bringing the total value of crypto assets, cash, and moonshot investments to approximately $14.3 billion. Its ETH holdings represent 4.97% of the total supply of 122.2 million tokens, and the company stated it has achieved 99% of its "5% Alchemy" target.

Last week, BitMine purchased an additional 9,587 ETH, maintaining its weekly accumulation since initiating its ETH treasury strategy on June 30, 2025. The company has already staked 5,227,037 ETH (approximately $11.7 billion, representing 86% of its holdings). Based on a seven-day average staking yield of 2.65% as of November 8, current annualized staking rewards stand at roughly $309 million; if the entire position were staked via the MAVAN platform and its partners, projected annualized rewards would reach $359 million.

Chairman Tom Lee cited Ethereum co-founder Vitalik Buterin’s remarks at Devcon 8 in Mumbai—"I have finally made up my mind: ETH is a store of value, ETH is money"—describing it as an "earthquake-level shift." He contends that ETH is not a cash-flow-generating token like HYPE or LIT, but trusted, high-quality collateral, explaining why Ethereum is the preferred Layer 1 blockchain for most financial institutions. BitMine is currently the world’s largest ETH treasury and the second-largest crypto treasury overall, trailing only Strategy, which holds 849,327 BTC (approximately $69 billion).