BitMine nears 5% Ethereum supply target with another 8,573 ETH purchase

According to the company's November 2 announcement, its Ethereum treasury represents about 4.9% of the cryptocurrency's estimated 122.2 million circulating supply. BitMine valued its combined cryptocurrency holdings, cash, marketable securities and other investments at $14.5 billion. The purchase came as Ethereum traded near $2,290 on November 2, recovering modestly after several weeks of selling pressure.

BitMine's latest acquisition follows a series of weekly purchases that have brought the company close to its target of owning 5% of Ethereum's supply. Chairman Tom Lee confirmed that the company purchased 8,573 ETH during the preceding week, continuing an accumulation strategy introduced on June 30, 2025. 3/ "Over the past week, we acquired 8,573 ETH.

Bitmine's track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025," stated Lee.

Earlier coverage

• Premia Labs loses $464K – NEAR Intents and Chainflip enter the trail Nov 1
• CFTC Chair Selig says AI agents could challenge financial rules Oct 29