Bitmine has expanded its ethereum position to 3.4 million ETH, bringing its total crypto and cash holdings to $13.7 billion. The company now owns 2.8% of the total ETH supply, marking a key milestone in its long-term goal to reach 5%.
Bitmine Nears 3% of ETH Supply as Holdings Reach 3.4 Million Tokens
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$13.7 Billion in Crypto and Cash for Bitmine
Bitmine Immersion Technologies (NYSE: BMNR) has announced that its total crypto and cash holdings have reached $13.7 billion, led by a major increase in its ethereum position to 3.4 million ETH. The company now controls 2.8% of the total ETH supply, surpassing the halfway point toward its goal of acquiring 5% of ethereum’s circulating tokens.
As of November 2, Bitmine’s portfolio includes 3,395,422 ETH valued at approximately $3,903 per token, 192 Bitcoin ( BTC), a $62 million stake in Eightco Holdings (NASDAQ: ORBS), and $389 million in unencumbered cash.
With these holdings, Bitmine ranks as the largest ethereum treasury globally and the second-largest crypto treasury overall, behind Strategy Inc. (MSTR), which holds 640,808 BTC valued at $71 billion.
According to Chairman Tom Lee, the recent market reset following October’s massive liquidation event has created a healthier setup for ethereum’s next growth phase. “Ethereum fundamentals continue to strengthen,” Lee said, citing a 15% rise in stablecoin supply on the network and record-high decentralized application revenues.
Lee added that Bitmine’s increased cash position gives it flexibility for further strategic acquisitions. “We acquired over 82,000 ETH this past week, bringing us closer to our ‘alchemy of 5%’ target,” he said.
Bitmine’s shares remain among the most actively traded in the U.S., with a five-day average trading volume of $1.5 billion, reflecting strong institutional interest from firms including ARK Invest, Founders Fund, Galaxy Digital, and Pantera Capital.
FAQ💰
- How much crypto does Bitmine currently hold?
Bitmine now holds $13.7 billion in combined crypto and cash assets, led by its massive ethereum position. - How large is Bitmine’s ethereum stake?
The company owns 3.4 million ETH, about 2.8% of the total supply, as it targets a long-term goal of 5%. - Where does Bitmine rank among global crypto treasuries?
Bitmine is the world’s largest ethereum holder and the second-largest overall crypto treasury after Strategy Inc. - What’s driving Bitmine’s aggressive ethereum accumulation?
Chairman Tom Lee says rising stablecoin activity and record DApp revenues signal strong fundamentals for ethereum’s next growth phase.
