Bitmine's Portfolio Value Falls to $15.1 Billion as Ether Holdings Rise

Bitmine Immersion Technologies, Inc. added 12,535 Ether (ETH) during the week ended Oct. 18, while its broader portfolio fell by about $1.1 billion to $15.1 billion as its ETH valuation price declined.

Bitmine held 6,041,481 ETH at 3 p.m. ET (19:00 UTC) Oct. 18, compared with 6,028,946 ETH at 1:30 p.m. ET (17:30 UTC) Oct. 11. The increase matches the amount added during the week. The Oct. 11 balance was detailed in earlier coverage of Bitmine's treasury.

The $15.1 billion total includes crypto assets, cash, marketable securities and other investments. The comparable total was $16.2 billion a week earlier. Bitmine valued ETH at $2,365 per token in the Oct. 18 snapshot, down from $2,544 in the Oct. 11 snapshot.

Bitmine had staked 5,067,309 ETH as of Oct. 18, about 84% of its Ether balance. That token count was unchanged from Oct. 11. Staking commits ETH to help validate transactions on Ethereum and can earn rewards, though outages or misconduct can reduce returns.

Its latest balance represented about 4.9% of the 122.1 million ETH supply used to measure progress toward Bitmine's stated 5% ownership goal. The company had already passed 6 million ETH in September, when it held 6,001,302 ETH as of Sept. 27.