Bitmine Immersion Technologies (NYSE American: BMNR) revealed on Nov. 10 that its total crypto and cash reserves have surged to $13.2 billion, driven by a massive Ethereum accumulation push. The company now holds 3,505,723 ETH, valued at $3,639 per token, alongside 192 bitcoins and $398 million in unencumbered cash.
Accumulation Details: ETH Stash Jumps 34% in a Single Week
In a press release distributed via PR Newswire, Bitmine disclosed it added 110,288 ETH this week — a 34% increase over the prior week — bringing its share of the total ETH supply to 2.9%. The company also reported a $61 million “moonshot” investment in Eightco Holdings (Nasdaq: ORBS).
Chairman Tom Lee of Fundstrat said: “We’re now more than halfway toward the ‘alchemy of 5%’ goal,” referring to the firm's ambition to control 5% of all Ethereum in circulation. He added that the firm took advantage of a dip in ETH prices to expand its position while simultaneously raising cash reserves. At current prices, Bitmine’s ether holdings are worth approximately $12.75 billion.
Market Position: Second-Largest Crypto Treasury, Top-Tier Stock Liquidity
Bitmine’s Ethereum position makes it the world’s largest ETH corporate treasury and the second-largest overall crypto corporate treasury, trailing only Strategy Inc. (MSTR), which holds roughly 641,205 bitcoin worth about $67 billion. According to Fundstrat data, Bitmine is now one of the most traded U.S. equities, ranking 48th with an average daily dollar volume of $1.6 billion among more than 5,700 publicly listed stocks — placing it just behind Lam Research and ahead of Arista Networks.
Lee noted that despite October’s crypto deleveraging event, institutional demand remains robust. Bitmine and Strategy collectively account for 88% of all global digital asset treasury (DAT) trading volume, with Bitmine leading peers in net asset value (NAV) growth and stock liquidity. Major backers include ARK’s Cathie Wood, Founders Fund, Pantera Capital, and Galaxy Digital.
Ecosystem Moves: NYSE Summit with Ethereum Foundation
Lee revealed that Bitmine and the Ethereum Foundation recently co-hosted a summit at the New York Stock Exchange, attracting interest from major financial institutions exploring asset tokenization. He described ethereum as a “super cycle story” over the next decade, drawing parallels between blockchain innovation and the post–Bretton Woods modernization of Wall Street in the 1970s. The firm's aggressive treasury strategy signals growing confidence in Ethereum as a core reserve asset for public companies.