Bitmine Immersion Boosts Ethereum Holdings to 3.5M Tokens Amid Market Dip

Highlights:

• BitMine Immersion currently owns more than 3.5 million ETH, which represents 2.9% of the total supply of Ethereum.
• The total crypto, cash, and strategic investments of the firm stand at $13.2 billion, second only to Strategy globally.
• The firm remains aggressive in its ETH accumulation strategy with institutional backing of ARK Invest and Founders Fund, among others.

Bitmine Immersion Technologies (BMNR), an Ethereum-focused digital asset treasury (DAT), increased its Ethereum holdings by acquiring 110,288 ETH last week. It has topped 3.5 million tokens, marking a 34% increase from the previous acquisition. According to the press release, Bitmine currently owns 2.9% of Ethereum’s overall supply.

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The strategic move came after the Ethereum price dip, which the company viewed as a buying opportunity. The new acquisition costs around $400 million at the current price rates. Bitmine Immersion also increased its unencumbered cash and cash equivalents to $398 million, a $9 million increase. ETH is currently trading around $3,530, and BMNR shares surged more than 5% to $42. This trend demonstrates the long-term confidence in the Ethereum strategy of Bitmine.

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BitMine provided its latest holdings update for Nov 10th, 2025:

$13.2 billion in total crypto + "moonshots":
-3,505,723 ETH at $3,639 per ETH (Bloomberg)
– 192 Bitcoin (BTC)
– $61 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– unencumbered…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) November 10, 2025

Crypto and Cash Holdings Reach $13.2 Billion

Bitmine Immersion is currently ranked as the second-largest crypto treasury in the world, just after Strategy. The company now values its total crypto, cash, and moonshot assets at $13.2 billion. These comprise 3,505,723 ETH tokens, 192 Bitcoin, and a 61 million investment in Eightco Holdings. Chairman Thomas Lee pointed to the goal of the company to own 5% of the total supply of Ethereum.

Lee said:

“We are now more than halfway on our original quest of the 5% alchemy. The recent fall in ETH prices provided a rare opportunity.”

Lee furthermore made some comparisons between the 2025 crypto reforms and the U.S. abandoning the gold standard in 1971. He claimed that the GENIUS Act and Project Crypto by the SEC are game changers in financial services in 2025. Bitmine is among the few treasury companies that are still buying crypto. Several competitors stopped buying or even sold assets during the broader market correction. Other targeted share buybacks are because of declining stock prices.

Institutional Support and Market Activity Amplify Strategy

Bitmine Immersion continues to be backed by institutional investors. Among the supporters are ARK, Founders Fund, Digital Currency Group (DCG), Kraken, Pantera, and Bill Miller III. Recently, ARK Invest offloaded some of its Tesla stocks and purchased 48,454 BMNR stocks for approximately $2 million.

Cathie Wood and Ark Invest bought 240,507 shares of Bitmine $BMNR today

167,348 shares in $ARKK
48,361 shares in $ARKW
24,798 shares in $ARKF pic.twitter.com/9fFDC4GvxY

— Treasury Edge (@TreasuryEdge) November 7, 2025

Bitmine is currently the largest holder of Ethereum in terms of treasury worldwide. Moreover, it is the 48th most traded stock in the country with an average daily trading volume of $1.6 billion. The large amount of liquidity has played a major role in institutional capital gain.

The cryptocurrency market was affected by the largest deleveraging event in October. However, trading volumes across crypto assets are now gradually recovering. Bitmine and Strategy Inc.’s joint trading now controls 88% of global DAT trading.

Bitmine Immersion launched its Ethereum-focused treasury strategy in June 2025. Gradually, it has expanded its holdings and presence. As per CoinGecko data, there are 18 entities that together hold 5.4 million ETH. Among these, Bitmine is said to account for more than half. The largest Bitcoin holder, Strategy, has also bought 487 Bitcoins to bring their total holdings to 641,692 at an average price of $74,709 each.

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