Bitmine Reports 9,587 Ether Buy, Holds 4.97% of ETH Supply

Bitmine Immersion Technologies, Inc. reported buying 9,587 Ether (ETH) last week and separately listed 6,070,092 ETH in holdings as of Nov. 8, a position equal to 4.97% of supply.

The Nov. 9 update used a total supply figure of 122.2 million ETH. Bitmine said it is nearing its goal of owning 5% of the supply, a target it calls the “Alchemy of 5%.” The reported purchase follows a purchase of 8,573 ETH the previous week.

A holdings snapshot at 2 p.m. ET (19:00 UTC) Nov. 8 showed 6,070,092 ETH. Separately, Bitmine reported 5,227,037 ETH staked as of Nov. 8, about 86% of its holdings. That staked balance was unchanged from its Nov. 1 update.

Using a trailing seven-day staking yield of 2.65%, the company estimated annualized rewards of $309 million. Its previous estimate was $358 million at a 3.03% yield.

Bitmine valued its crypto assets, cash, marketable securities and other investments at $14.3 billion. The total included 216 Bitcoin (BTC) and $475 million in cash and marketable securities. Bitmine Chairman Thomas “Tom” Lee said the company has bought ETH each week since starting its treasury strategy on June 30, 2025.