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Bitmine Immersion Technologies added 8,573 ETH over the past week, taking its Ethereum treasury to 6,060,506 ETH, the company said Monday. At $2,261 per ETH, the holdings were valued at approximately $13.7 billion as of November and represented 4.9% of ether's total supply. Bitmine said 5,227,037 ETH, or about 86% of its position, was staked.
Why it matters
The treasury combines a large ETH position with staking income. Bitmine projects $358 million in annualized staking revenue at current levels, rising to $415 million if it stakes all its ETH. The company also reported 216 BTC, a $180 million stake in Beast Industries, an $82 million investment in Eightco Holdings, and $498 million in cash and marketable securities. Its combined crypto, cash, securities, and other investments totaled $14.5 billion.
Chairman Tom Lee also pointed to the market's muted response to the recent $6.3 billion Binance hack. He said ETH had declined approximately 4% since the incident was disclosed and described the reaction as constructive compared with prior large crypto thefts. Lee cited Binance's ability to cover losses, the absence of DeFi protocol failures, and industry intervention that limited losses by 50% among six factors behind the response.
Market impact
Lee contrasted the move with ETH's reaction to the $1.5 billion Bybit theft announced in February 2025: ETH fell 8% that day and then dropped 20% within a week. ETH traded at $2,281.41 on Monday, up 0.87% over 24 hours. Bitmine shares closed Friday at $20.18, down 6.83%. The figures put the focus on whether large ETH treasury holdings and staking can sustain revenue while crypto markets absorb security shocks.
Frequently asked questions
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How much Ethereum does Bitmine hold after its latest purchase?
Bitmine reported a treasury of 6,060,506 ETH after adding 8,573 ETH over the past week. It said the holdings represented 4.9% of ether's total supply.
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How much of Bitmine's ETH is staked?
Bitmine said 5,227,037 ETH, approximately 86% of its position, is staked. It projects $358 million in annualized staking revenue at current levels.
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What annual staking revenue does Bitmine project?
Bitmine projects $358 million in annualized staking revenue at current levels, rising to $415 million if all of its ETH were staked.
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How did ETH react to the Binance hack compared with the Bybit theft?
Tom Lee said ETH declined approximately 4% after the Binance incident was disclosed. After the Bybit theft announcement in February 2025, ETH fell 8% that day and 20% within a week.
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What else is included in Bitmine's reported investment total?
Alongside its crypto holdings, Bitmine reported a $180 million stake in Beast Industries, an $82 million investment in Eightco Holdings, and $498 million in cash and marketable securities. The combined total was $14.5 billion.
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