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3w ago

BitMine Lifts Ethereum Stockpile to 3.5 Million Tokens, Now Controls 2.9% of Supply

Management says opportunistic dip‑buying advanced its push toward a 5% ETH treasury.

Ethereum: Analyzing why Bitmine’s $12.4B ETH bet matters now
Tom Lee's BitMine reports $13.2 billion in crypto and cash as ETH stack tops 3.5 million tokens
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Overview

  • The company disclosed it bought 110,288 ETH in the past week, bringing holdings to 3,505,723 tokens as of Nov. 9 at 8:00 p.m. ET.
  • Reported assets total $13.2 billion across crypto, cash and investments, including $398 million in unencumbered cash, 192 BTC and a $61 million stake in Eightco Holdings.
  • BitMine remains the largest corporate holder of ETH and the second‑largest overall crypto treasury after Strategy Inc., according to company and market reports.
  • BMNR shares rose roughly 5%–6% on the update, and the stock averaged $1.6 billion in daily dollar volume over five sessions, ranking 48th among U.S. equities by that metric.
  • Independent trackers attribute fewer ETH to verified BitMine wallets than the company’s total—Arkham at 3.232 million and The Block at 2.830 million—highlighting unresolved verification questions amid OTC and custodial flows.