Bitmine Adds 8,573 ETH to Treasury, Expanding Holdings to 4.9% of Circulating Supply

Bitmine Immersion Technologies expanded its Ethereum reserves to 6,060,506 ETH, representing roughly 4.9% of the circulating supply. The company acquired 8,573 ETH in the week ending November 1, leaving it approximately 49,500 ETH short of its 5% supply target. Bitmine's total treasury of digital assets, cash, and marketable securities reached $14.5 billion, down from roughly $15 billion the prior week as ETH slid 4% to $2,261. Of its ether holdings, 5,227,037 ETH are staked, generating an estimated $358 million in annualized rewards, with Chairman Tom Lee citing market resilience following Binance's $6.3 billion hack.