Bitmine Immersion Holds 6.07 Million Ether, Nearing 5% Supply Target

Bitmine Immersion Technologies added 9,587 Ether over the past week, lifting its treasury to 6,070,092 ETH — 4.97% of the token's supply and within reach of the company's stated 5% accumulation goal. The company valued its crypto, cash and other investments at approximately $14.3 billion as of Nov. 8, according to its own weekly disclosure.

The pace of accumulation is slowing, at least in raw terms. The latest purchase of 9,587 ETH follows a prior-week acquisition of 8,573 ETH, when holdings stood at 6,060,506 ETH. Chairman Thomas "Tom" Lee said the company has bought Ether every week since launching its treasury strategy on June 30, 2025. That claim reflects company reporting; weekly consistency does not guarantee rising purchase sizes.

How does Bitmine value the position?

At 2 p.m. ET on Nov. 8, Bitmine marked its Ether at $2,234 per token, against a stated circulating supply of 122.2 million ETH. Those inputs produce the 4.97% supply figure the company cites. The valuation is a point-in-time mark, not an audited fair-value assessment, and it moves with a market that the company does not control.

The staked portion of the portfolio did not change. Bitmine reported 5,227,037 ETH staked as of Nov. 8, identical to the prior week. At $2,234 per token, that staked balance was worth roughly $11.7 billion — about four-fifths of the company's stated total asset base.

What do the staking rewards look like?

Lee projected $309 million in annualized staking rewards from the currently staked tokens, applying a trailing seven-day annualized yield of 2.65%. If Bitmine staked its entire Ether position, he projected $359 million in annualized rewards.

For context, $309 million per year equals roughly $25.8 million per month. The projection rests on a trailing yield figure; staking yields on Ethereum vary over time, and a seven-day trailing rate may not hold over a full year. The gap between the two figures — $50 million — shows how much of the potential reward depends on staking the remaining 843,055 ETH that Bitmine holds unstaked.

What else sits on the balance sheet?

Beyond Ether, the company disclosed a diversified set of holdings as of Nov. 8:

• 216 Bitcoin (BTC)
• $475 million in cash and marketable securities
• A $180 million stake in Beast Industries
• A $75 million stake in Eightco Holdings

Taken together, Bitmine valued its crypto assets, cash and securities, and other investments at about $14.3 billion. The Ether position dominates that total, which concentrates the company's fortunes in a single asset's price and staking economics.

What comes next?

The company needs roughly 49,000 additional ETH — about 0.03% of supply — to cross the 5% threshold it set for itself. Whether Bitmine maintains its weekly cadence, and whether it elects to stake the unstaked remainder, will determine whether the $359 million reward projection becomes operational reality rather than a modelled figure.