Bitmine Increased Reserves to 6.07 Million ETH and Approached 5% of Ethereum Supply

American company Bitmine Immersion Technologies, managing cryptocurrency reserves and trading on the New York Stock Exchange under the ticker BMNR, acquired an additional 9,587 ETH over the week. According to the company's report dated November 9, 2026, its reserves reached 6,070,092 ETH, or 4.97% of the total Ethereum supply.

At an estimated price of $2,234 per ETH on November 8, the value of the reserves was approximately $13.6 billion. Bitmine is approaching its strategic goal of accumulating 5% of all circulating ETH. The company estimates that it has completed this plan by approximately 99%.

Bitmine has been making weekly purchases of ether since June 30, 2025. The company remains the largest corporate holder of ETH and ranks second in cryptocurrency reserves among public companies after Strategy, which specializes in accumulating bitcoin.

The total asset value of Bitmine decreased to $14.3 billion

Despite the increase in the number of ETH, the total value of Bitmine's cryptocurrency reserves, cash, liquid securities, and other investments decreased from $14.5 billion to $14.3 billion over the week.

As of November 8, the company's assets included:

• 6,070,092 ETH valued at approximately $13.6 billion.

• 216 BTC.

• $475 million in cash and liquid securities.

• A stake valued at $180 million in Beast Industries, a media and entertainment company.

• Investments of $75 million in the public company Eightco Holdings.

The price of $2,234 was used to evaluate ETH, whereas the previous week the calculation was based on $2,261. Thus, the decrease in the total asset value occurred despite the ongoing accumulation of cryptocurrency.

Bitmine expects to earn up to $359 million annually from staking

As of November 8, Bitmine had staked 5,227,037 ETH, or about 86% of its reserves. Their estimated value was $11.7 billion.

Staking involves locking cryptocurrency to participate in the Ethereum network and earning rewards for transaction validation. For these operations, Bitmine uses its own MAVAN infrastructure and external partners.

With a yield of 2.65%, calculated over the previous 7 days, the company estimates annual rewards from already staked ETH at approximately $309 million. If the entire reserve is utilized for staking, the estimated amount could rise to $359 million per year. These are forecasted figures, not actual income received.

Bitmine's Chairman of the Board, Tom Lee, also commented on Ethereum co-founder Vitalik Buterin's statement about ETH's role as a store of value and money. According to Lee, this interpretation enhances ether's significance in the development of asset tokenization and financial applications based on Ethereum.

The financial results of Bitmine's strategy depend on the market value of ETH and staking yields. The concentration of a significant portion of assets in one cryptocurrency increases the company's sensitivity to changes in its price.

The exact date for reaching the target share of 5% of the ETH supply has not been announced.