Bitmine Immersion Technologies [BMNR] simply purchased extra Ethereum [ETH]. At this level, it’s a behavior. However, the pile isn’t negligible anymore, making this worthy sufficient to have a look.
Bitmine now simply 50K tokens away from 5% purpose!
Bitmine picked up 8,573 ETH final week, at $2,261 per token. That’s value almost $20 million! At press time, the overall stash was value 6,060,506 ETH.
In reality, that’s 4.9% of Ethereum’s 122.2 million supply. The firm has been chasing 5% for about 15 months and now, they’re about 50,000 ETH brief.
According to Chairman Tom Lee, Bitmine has bought ETH every single week, since beginning its treasury technique in June 2025.
Bitmine’s observe document of constant shopping for of crypto is unmatched by any public firm in the world.
Most of that ETH is working too. Around 5.23 million tokens, or 86% of the stack, are staked. That’s value about $11.8 billion.
At full scale, it’s anticipated that they’d result in $415 million a 12 months in staking rewards. Add money, Bitcoin [BTC], and some aspect bets, then Bitmine’s whole holdings come as much as $14.5 billion.
Lee additionally commented on Binance’s current $6.3 billion hack, which the FBI has blamed on North Korea. Comparing it to the Bybit hack of 2025, he said,
We consider this can be a way more muted market response regardless of the scale of the theft being roughly quadruple the scale…
BMNR stock goes up above $21.90
The stock appears to love what it’s listening to as effectively.
BMNR stock was at $21.90 on 4th November, having began the day at $20.50. A leap of almost 7% in just a few hours, with a excessive simply above $22.20.
It’s not been a easy street although. On the 2nd, it slid to about $19.45 earlier than bouncing. It then spent most of third November between $20.30 to $20.80.
The near-term has been wanting a bit hotter too. The RSI on the 5-minute view was above 80 through the run, and has since slowed to 68.5. The MACD was above the Signal Line at press time, however the inexperienced bars had been shrinking.
Simply put, patrons would possibly nonetheless be in cost, but it surely didn’t appear very apparent.
Final Summary
- BitMine purchased 8,573 ETH final week, with holdings close to 4.9% of whole provide.
- BMNR stock rose by almost 7% in just a few hours on 4th November.
