Key Highlights

  • Shares are trading down 1.41% at $19.90 versus a prior close of $20.18.
  • Bitmine added 8,573 ETH last week, lifting holdings to 6,060,506 tokens.
  • Total crypto, cash and moonshot holdings come to $14.5 billion.

Bitmine (NYSE:BMNR) shares are trading down 1.41% at $19.90 after the company reported that its Ethereum holdings reached 6.06 million tokens, or 4.9% of the 122.2 million ETH supply. The stock has a 52-week range of $12.80 to $44.88.

Bitmine Immersion Technologies is a blockchain infrastructure company that describes itself as the largest Ethereum treasury company in the world. It earns staking rewards through its MAVAN validator platform and also runs bitcoin mining, hosting and consulting activities.

Weekly Purchase Lifts Holdings Toward the 5% Goal

Bitmine added 8,573 ETH over the past week, taking holdings to 6,060,506 tokens valued at $2,261 each as of November 1. Total crypto, cash and marketable securities and moonshot holdings come to $14.5 billion, including $498 million in cash and marketable securities, 216 bitcoin, a $180 million stake in Beast Industries and an $82 million stake in Eightco (NASDAQ:ORBS).

The company says it is 99% of the way to its goal of owning 5% of the ETH Supply and has bought ETH every week since launching its treasury strategy on June 30, 2025.

Staking Income Projected at $415 Million Annually

Bitmine has 5,227,037 ETH staked, worth about $11.8 billion. At the current 3.03% seven-day yield, the company projects annualized staking Revenue of about $358 million on the staked amount and about $415 million once all of its ETH is staked.

Muted Binance Reaction Frames the Chairman's Bull Case

Chairman Tom Lee said the market reaction to the roughly $6.3 billion Binance theft was far more muted than after the 2025 ByBit hack, with Ether down about 4% since the disclosure versus an 8% drop on the day of the earlier theft. He listed six reasons, including Binance's ability to cover customer losses and the absence of a cascade of DeFi failures, and called the limited downside a sign that a crypto Bull Market is underway.