BitMine Immersion Technologies acquired 9,587 ETH over the past week, bringing its total Ethereum holdings to 6,070,092 ETH as of November 8. The company now holds approximately 4.97% of Ethereum’s estimated 122.2 million ETH supply, moving closer to its stated goal of accumulating 5% of the network’s total supply.

In its November 9 announcement, BitMine also reported approximately $14.3 billion in combined cryptocurrency holdings, cash, marketable securities and other investments.

BitMine’s Ethereum Treasury Nears 5% Target

The latest purchase extends a buying strategy that began on June 30, 2025. BitMine has continued acquiring Ethereum weekly as it builds one of the largest publicly disclosed corporate ETH treasuries.

Based on Ethereum’s estimated 122.2 million token supply, BitMine needs approximately 39,908 additional ETH to reach the 5% threshold. The company refers to its accumulation initiative as the “Alchemy of 5%” and said it has reached approximately 99% of that target in 15 months.

That remaining gap is equivalent to slightly more than four weekly purchases at the most recent week’s size of 9,587 ETH. Because the company discloses its holdings on a weekly schedule, its announcements provide a running public record of the program, and the 5% line gives readers a fixed, verifiable benchmark for tracking whether it is crossed.

BitMine chairman Tom Lee said the company has maintained regular purchases since launching its Ethereum treasury strategy. He described the accumulation campaign as part of BitMine’s long-term digital asset investment approach.

The acquisition was also reported in a post by Wu Blockchain on November 9, 2026:

BitMine Nears 5% of ETH Supply After Adding 9,587 ETH BitMine said it acquired 9,587 ETH over the past week, bringing total holdings to 6,070,092 ETH, or about 4.97% of Ethereum’s supply. The company has 5,227,037 ETH staked and said fully staking its ETH holdings could… pic.twitter.com/CELew4QyhM — Wu Blockchain (@WuBlockchain) November 9, 2026

https://x.com/WuBlockchain/status/2119785646831317028?ref_src=twsrc%5Etfw

Staked ETH Could Generate $359 Million in Annual Rewards

Alongside its purchases, BitMine has committed a substantial portion of its Ethereum holdings to staking. The company reported 5,227,037 ETH staked as of November 8, representing approximately 86% of its total ETH holdings — a staked balance that alone corresponds to roughly 4.3% of Ethereum’s estimated total supply.

At the disclosed reference price of $2,234 per ETH, the staked assets were valued at approximately $11.7 billion. BitMine estimated annualized staking rewards of $309 million from its existing staked holdings. That projection would increase to approximately $359 million if the company staked its entire Ethereum treasury through its validator infrastructure and staking partners. The difference between the two figures rests on the remaining 843,055 ETH that is not yet staked, making how BitMine handles that balance one of the details to watch in future weekly disclosures.

Both estimates are based on BitMine’s trailing seven-day staking yield of 2.65%. The figures are projected annualized rewards, not guaranteed income, and depend on network yields and operating conditions.

BitMine also operates MAVAN, or the Made in America Validator Network, which provides Ethereum staking and validation services. The platform initially supported BitMine’s own treasury and has since expanded to institutional investors, custodians and other ecosystem partners.

BitMine Reports $14.3 Billion in Assets

In addition to its Ethereum holdings, BitMine disclosed 216 Bitcoin and $475 million in cash and marketable securities. Its investment portfolio also includes a $180 million stake in Beast Industries and a $75 million stake in Eightco Holdings.

Together, these holdings brought BitMine’s reported portfolio value to approximately $14.3 billion as of November 8.

Lee linked BitMine’s Ethereum strategy to growing interest in ETH as a store of value and cited recent remarks by Ethereum co-founder Vitalik Buterin supporting that role. BitMine’s valuation remains sensitive to cryptocurrency prices, while its projected staking income depends on network yields and the company’s operating conditions.

Source: Blockonomi