BitMine Adds 9,587 ETH as Total Ethereum Holdings Reach 6.07 Million Tokens

BitMine Immersion Technologies has increased its Ethereum treasury after acquiring another 9,587 ETH during the past week. The purchase raised its holdings to 6.07 million tokens, bringing the company closer to its 5% supply target.

BitMine Moves Closer to Controlling 5% of Ethereum

According to BitMine’s November 9 statement, its combined crypto assets, cash, marketable securities, and other investments totaled $14.3 billion. As of November 8, the company held 6,070,092 ETH, representing 4.97% of Ethereum’s reported total supply.

BitMine valued its Ethereum holdings at $2,234 per token, using Coinbase market data. The company reported 216 Bitcoin alongside $475 million in cash and marketable securities.

Its investment portfolio includes a $180 million stake in Beast Industries and another $75 million in Eightco Holdings. Meanwhile, Chairman Tom Lee confirmed that BitMine has purchased Ethereum every week since launching its treasury accumulation strategy on June 30, 2025.

BitMine’s Ethereum Staking Rewards Could Reach $359 Million

Meanwhile, BitMine has committed most of its Ethereum holdings to staking through its institutional infrastructure. The company reported 5,227,037 staked ETH, worth approximately $11.7 billion at its November 8 reference price.

With nearly 86% of its Ethereum holdings staked, BitMine estimates annual rewards of $309 million. Lee expects potential staking income to reach $359 million annually once the company stakes its remaining ETH.

The projection uses BitMine’s seven-day staking yield of 2.65%, recorded on November 8. Institutional crypto services continue expanding, with Chainlink recently introducing CustodySync alongside Anchorage Digital.

This service brings the assets under qualified custody to the decentralized lending market via the collateral management infrastructure.

Tom Lee Highlights Ethereum’s Institutional Adoption

During the announcement, Lee discussed Ethereum co-founder Vitalik Buterin’s recent comments about ETH’s monetary properties.

Speaking at Devcon 8, Buterin described ETH as “a store of value” and “money.”

Lee argued that Ethereum’s collateral properties could support institutional adoption and blockchain-based financial products. Meanwhile, Securitize recently added 25 other stocks, such as Disney, Salesforce and ExxonMobil, to its tokenized stock offering on Solana.

BitMine currently identifies itself as the largest corporate Ethereum treasury, with Strategy leading global corporate crypto holdings. BitMine notes that Strategy is holding 849,327 Bitcoin, and Strategy’s preferred shares are trading under the BMNP ticker.