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Institutions & ETFs · 1 min read

Bitmine Grows Ethereum Stash to 6.06 Million Tokens Valued at $13.7 Billion

The company holds 4.9% of the circulating ETH supply and has staked 5.2 million tokens, generating hundreds of millions in projected annualized yield.

Editorial oversight: Julian Mercer, Chief Editor
Neutral
$ETH $2,273 +0.4% $BTC $77,461 −0.5%

At a glance

What happened
Bitmine expanded its Ethereum holdings to 6.06 million tokens worth $13.7 billion as of Nov. 1, 2026, comprising 4.9% of circulating supply.
Why it matters
The company has locked 5.2 million tokens into validator networks, generating an estimated $358 million in annualized staking income.
Who is affected
Bitmine Immersion Technologies, institutional staking partners, and the Ethereum validator network.
What's next
Bitmine continues weekly market purchases toward its stated threshold of securing 5% of total circulating ETH.
Primary source
prnewswire.com: Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.06 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $14.5 Billion

Key points

  • Bitmine holds 6,060,506 ETH valued at $13.7B as of Nov. 1, representing 4.9% of the total circulating supply 1.
  • The company has staked 5,227,037 ETH across its MAVAN validator network and staking partners, yielding $358M in annualized revenue 1.
  • Bitmine's total portfolio of crypto, cash, and venture holdings reached $14.5B, maintaining its rank as the largest ETH treasury globally 1.

Bitmine Immersion Technologies announced its Ethereum holdings reached 6,060,506 $ETH as of Nov. 1, 2026, putting the firm within striking distance of its stated goal to control 5% of the network's token supply 1. The position constitutes 4.9% of the 122.2 million circulating ether, following the purchase of 8,573 tokens over the past week 1. Bitmine previously became the first public entity to surpass 6 million ETH tokens 1.

Total assets across digital currencies, cash, marketable securities, and strategic investments reached $14.5 billion as of Nov. 1 at 4:00 p.m. ET 1. The firm holds $498 million in cash and liquid securities, 216 $BTC, an $82 million position in Eightco Holdings, and a $180 million stake in Beast Industries 1. According to company calculations that valued ether at $2,261 on Coinbase, the corporate balance sheet remains the largest dedicated ETH treasury globally, ranking second among all corporate crypto treasuries behind Strategy Inc.'s 848,517 bitcoin 1. At the time of writing, ether changed hands at $2,287.

Staking Operations and Market Assessment

Bitmine disclosed that 5,227,037 tokens—roughly 86% of its ETH reserves—are actively staked, representing $11.8 billion at the Nov. 1 benchmark price 1. Staking operations take place through the company's Made in America Validator Network (MAVAN) alongside outside staking partners 1. Bitmine reported projected annualized staking revenue of $358 million based on current deployments and estimated that rewards could hit $415 million annually at full staking capacity, based on a 3.03% seven-day yield 1.

In the update, Bitmine Chairman Thomas Lee addressed the recent $6.3 billion security breach at cryptocurrency exchange Binance, which authorities attributed to North Korea 1. Lee characterized the market's response as comparatively muted relative to earlier incidents, citing exchange solvency, the lack of decentralized finance contagion, rapid industry containment, and swift attribution by federal investigators as indicators of broader industry resilience 1.

Sources

  1. [1] Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.06 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $14.5 Billion — prnewswire.com, November 2, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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