Bitmine Immersion Technologies has grown its Ethereum reserve to 6,060,506 ETH. That is 4.9% of all issued coins. Over the past week, the company bought another 8,573 ETH for approximately $19 million.
Bitmine trades on the NYSE and is building a crypto reserve. A crypto reserve is coins that a company holds on its balance sheet as a core asset. Bitmine's stated goal is 5% of all Ethereum.
For a trader, the size and rhythm of these purchases matter. The company has been entering the market every week without interruption since June 30, 2025.
What Bitmine has on its balance sheet
The ETH stockpile is valued at $13.7 billion at a carrying price of $2,261 per coin.
- 6,060,506 ETH - the entire Ethereum stockpile on the balance sheet
- 4.9% of the total supply of 122.2 million ETH, i.e. 99% of the way to the 5% threshold
- 216 BTC, as well as $498 million in cash and securities
- $180 million - a stake in Beast Industries, $82 million - a position in Eightco Holdings
No other public company has a larger Ethereum reserve. Among all crypto reserves, Bitmine is second after Strategy with its 848,517 BTC.
All assets together are valued at $14.5 billion as of November 1. A week earlier it was $15 billion: the figure slipped because the assets themselves fell, not because of sales.
Where does the income come from?
Most of the coins are working in the network. Staking is when coins are locked in the network and generate income for participating in its operation.
- 5,227,037 ETH - in staking via the MAVAN platform
- 86% of the company's stockpile is locked up this way
- about $358 million per year - staking income according to the company's calculations
- since June 30, 2025 purchases have been made every week without interruption
Why did ETH fall only 4%?
The market barely priced in the record theft from Binance to the downside. $6.4 billion was withdrawn from the exchange, and the FBI pointed to North Korea. ETH lost 4%.
The arguments were laid out by Tom Lee, chairman of the board of Bitmine.
- Binance is able to cover clients' losses. The exchange has enough money for this.
- There was no chain of failures. Decentralized services did not stop operating.
- The industry reacted quickly. Some of the stolen funds were frozen.
- The blow landed on the exchange's infrastructure, not on the blockchain itself.
For comparison. After the Bybit hack in February 2025 for $1.5 billion, ETH lost 8% in a day and 20% in a week.
What does this mean for a trader?
Bitmine has covered 99% of the way to the 5% threshold and continues to buy more coins every week.
The main point: the largest public holder of ETH survived a drop in assets from $15 billion to $14.5 billion in a week and sold nothing.
For a private trader, everything comes down to account size. How trading with someone else's capital works is covered in the academy, and you can pick a challenge suited to crypto based on your trading style.
Did you watch how ETH shook off the $6.4 billion theft?
Bitmine has been buying more ETH every week for over a year and calmly absorbs a $500 million loss over seven days. For a private trader, the entire risk comes down to account size. The same percentage move on a deposit of a couple thousand changes nothing. Prop trading gives you a company's trading nominal: you pay for the selection, pass it, and trade its account for a share of the profit. It makes sense to understand the mechanics now, while the market has given a pause.