Bitmine Immersion Technologies, Inc. said its Ether position reached 6,060,506 tokens by Nov. 1, while the company’s reported combined holdings value fell to $14.5 billion from $15 billion a week earlier.
Bitmine said it acquired 8,573 Ether (ETH) during the week before the snapshot, taken at 4 p.m. ET Nov. 1. The company disclosed the figures in a Nov. 2 press release attached to a filing with the U.S. Securities and Exchange Commission. It reported the ETH balance using a $2,261-per-token reference price attributed to Coinbase. Bitmine said the position equaled 4.9% of a 122.2 million ETH supply.
Dividing the reported balance by that supply figure gives about 4.96%. The release does not explain the difference from the company’s 4.9% figure.
The $14.5 billion total covered cryptocurrency, cash and marketable securities, and other investments. Bitmine listed 216 Bitcoin (BTC), $498 million in cash and marketable securities, a $180 million stake in Beast Industries and an $82 million stake in Eightco Holdings.
At the Oct. 25 snapshot, Bitmine reported 6,051,933 ETH at $2,356 per token and combined holdings of $15 billion. The ETH count rose by the next snapshot as the reference price fell. The releases do not break down how those changes or movements in other holdings affected the combined total.
Bitmine said 5,227,037 ETH, or 86% of its balance, was staked as of Nov. 1, with a stated value of $11.8 billion. Based on a seven-day BMNR yield of 3.03%, the company projected $358 million in annualized staking revenue on about 5.2 million staked ETH. It separately projected $415 million in annualized staking rewards if all of its ETH were staked. Those figures are company estimates, not revenue already earned. Ethereum uses staked ETH in its proof-of-stake consensus process, and validators can earn rewards for valid participation.
Chairman Thomas “Tom” Lee said Bitmine has acquired ETH weekly since its treasury strategy began June 30, 2025. The company’s stated goal is to acquire 5% of the total ETH supply.
