Bitmine Immersion Technologies continues its weekly Ethereum acquisition strategy, recently purchasing 8,573 ETH for approximately $19 million. The company now holds 6,060,506 ETH, valued at roughly $13.7 billion based on a reference price of $2,261 per coin. This volume accounts for 4.9% of the total Ethereum supply, bringing the firm close to its 5% ownership goal, which it has pursued over 15 months since June 30, 2025.
Chairman Tom Lee addressed the recent $6.4 billion theft from Binance, which the FBI attributed to North Korea. Lee characterized the market's 4% price decline as muted compared to the 20% drop following the February 2025 Bybit hack. He cited six factors for this resilience, including Binance's ability to cover losses, the lack of systemic DeFi failures, and the fact that the incident involved corporate infrastructure rather than a blockchain flaw.
As of November 1, Bitmine reported total holdings of $14.5 billion. This portfolio includes 216 Bitcoin, $498 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $82 million position in Eightco Holdings. The company currently operates the world's largest Ethereum treasury and the second-largest overall crypto treasury, following Michael Saylor’s Strategy.
The firm utilizes its MAVAN platform to stake 5,227,037 ETH, which represents 86% of its Ethereum holdings. This staking activity is projected to generate roughly $358 million in annualized revenue. Meanwhile, Strategy has resumed its own Bitcoin accumulation, recently executing a purchase worth $66 million.
