Crypto Miner BitMine Now Holds 3.5 Million ETH Worth Over $13B – What do They Know?

BitMine Immersion Technologies disclosed total holdings worth $13.2 billion on November 9th, 2025, at 8:00pm ET. The company’s portfolio now includes 3,505,723 ETH valued at $3,639 per token based on Bloomberg data. This stake represents 2.9% of Ethereum’s total circulating supply.

The company’s treasury also comprises 192 Bitcoin, a $61 million equity position in Eightco Holdings, and $398 million in unencumbered cash reserves. The cash position increased from $389 million in the previous reporting period.

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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

Thomas “Tom” Lee, Chairman of BitMine and founder of Fundstrat, linked the portfolio expansion to favorable market conditions. The firm acquired 110,288 ETH tokens during the past week, representing a 34% increase over the prior week’s purchase volume.

BitMine currently holds the largest Ethereum treasury globally and ranks as the second-largest crypto treasury worldwide. Strategy Inc. maintains first position with 641,205 BTC valued at approximately $67 billion.

EHH-Focused Wall Street Summit and Regulatory Framework

BitMine and the Ethereum Foundation jointly hosted a summit at the New York Stock Exchange building last week. Multiple financial institutions attended to explore blockchain technology applications.

Lee highlighted growing Wall Street engagement with asset tokenization on blockchain networks. The chairman described blockchain-based tokenization as creating enhanced transparency while unlocking value for issuers and investors.

The company chairman compared the GENIUS Act and SEC’s Project Crypto to the 1971 Bretton Woods termination. Lee noted the 1971 decision ending the USD gold standard triggered Wall Street’s modernization 54 years ago.

BitMine achieved substantial trading volume in US equity markets. Fundstrat data showed the stock averaged $1.6 billion in daily dollar volume over five days ending November 7, 2025.

The company ranks 48th among 5,704 US-listed stocks, positioned between Lam Research and Arista Networks. BitMine and Strategy Inc. collectively account for 88% of global digital asset treasury trading volume.

Ethereum Market Turbulence and Institutional Capital

Ethereum experienced sharp price volatility on November 7, 2025, dropping to $3,055 before recovering to approximately $3,400. The sell-off triggered over $1.3 billion in leveraged position liquidations across cryptocurrency exchanges.

BREAKING:🚨 After a flash drop to $3,050 and $1.3B in long wipes, $Ethereum faces a wall of $7B short liquidity near $4K. pic.twitter.com/4dSlCueuRx

— Micon Crypto (@MconCrypto) November 5, 2025

The drawdown marked Ethereum’s largest long position wipeout since October 2025. Liquidations in the 24-hour period exceeded $121.72 million, with Binance processing $35 million in ETH long position closures alone.

Lee observed that crypto trading volumes continue recovering following the October 10th deleveraging event. He characterized the fourth quarter as historically demonstrating seasonal strength for cryptocurrency and equity prices.

Meanwhile, BitMine continues attracting institutional capital inflows. The company’s high stock liquidity and rapid crypto net asset value growth per share drive investor interest.

The firm’s trading performance positions it among top-tier US equity market participants. BitMine’s daily volume rivals established technology companies in the semiconductor and networking sectors.

Following the recent acquisition spree, BitMine’s Ethereum holdings solidified its dominance in corporate cryptocurrency treasuries. The company maintains an aggressive accumulation strategy during market dips.

The broader cryptocurrency market witnessed heightened institutional participation throughout November. Wall Street firms increased exploration of digital asset exposure through publicly traded treasury companies.