Bitmine Immersion Technologies, Inc. said its Ether (ETH) holdings rose to 6,060,506 tokens by Nov. 1, while its reported portfolio value fell by about $500 million from a week earlier.
In a snapshot taken at 4 p.m. ET Nov. 1, the company valued its combined crypto, cash and marketable securities, and other investments at $14.5 billion. Its Oct. 26 disclosure put the total at $15 billion. Bitmine used an Ether reference price of $2,261, down from $2,356 in the earlier report.
Bitmine Chairman Thomas “Tom” Lee said the company acquired 8,573 ETH over the week. Its Oct. 26 disclosure showed 6,051,933 ETH as of Oct. 25. The latest balance also included 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.
The company reported 5,227,037 ETH staked as of Nov. 1, about 86% of its Ether holdings. It valued the staked tokens at $11.8 billion and projected $358 million in annualized staking revenue, using a 3.03% seven-day yield. The $358 million is a company projection, not revenue already earned.
The staked balance matched the amount in Bitmine’s Oct. 26 disclosure.
Bitmine said its holdings represented 4.9% of a 122.2 million ETH supply and put its progress toward a 5% supply target at 99%. The company dates its ETH treasury strategy to June 30, 2025, and says it has continued buying ETH weekly since then.
