Bitmine buys 8,573 ether, about 1,900 fewer than last week, and is still about 49,500 short of the 5% of supply line

Bitmine Immersion Technologies said on Monday that it bought 8,573 ether in the past week, about 1,900 fewer than the 10,452 it added the week before. Holdings reached 6,060,506 ETH as of 4:00 p.m. ET on November 1, about 4.9% of an estimated 122.2 million supply, up from 6,051,933 on October 25.

Reaching 5% would take about 6.11 million ETH, so Bitmine is about 49,500 short, crypto.news calculated. Chairman Tom Lee has said the company has bought ether every week since its strategy began on June 30, 2025.

The company valued its total holdings at $14.5 billion, using $2,261 per ether from Coinbase. Besides ether, that includes 216 bitcoin, $498 million in cash and marketable securities, and stakes of $180 million in Beast Industries and $82 million in Eightco Holdings.

Staking is a growing share of the story. Bitmine has 5,227,037 ETH staked, about 86% of its ether, and says that produces annualized revenue of about $358 million, rising to about $415 million if everything were staked. On the Binance theft, Lee said the "relatively muted crypto market reaction is very constructive."