Bitmine Buys 12,535 ETH, Lifting Holdings to 6.04 Million

Bitmine Immersion Technologies (BMNR) bought 12,535 ETH over the past week, the company said on Monday, Oct. 19, at 8:30 AM ET. Its total now stands at 6,041,481 ETH, or 4.9% of the 122.1 million ether in circulation.

Details

In its press release, Bitmine values the stack at $2,365 per ETH (Coinbase, as of Oct. 18); a week earlier the figure used was $2,544. At that price the week's purchase works out to roughly $29.6 million, our own calculation. Some 5,067,309 ETH (about $12 billion), or 84% of holdings, is staked through the MAVAN platform. Projected staking revenue is $309 million a year at current levels and $369 million once everything is staked.

Beyond ether, Bitmine holds 215 BTC, a $180 million stake in Beast Industries, a $74 million investment in Eightco Holdings and $582 million in cash and marketable securities, for $15.1 billion in total. The company says about 60,000 more ETH reaches its goal of 5% of supply (the "Alchemy of 5%"), and that it has bought ETH every week since June 30, 2025. The Block reports the same figures.

What this means for the market

Bitmine remains one of the most visible corporate buyers of ether. The week's purchase is small next to a $14 billion stack, but the pace continues and, per the company, the 5% goal is close. Chairman Tom Lee attributed recent market pressure to investors cutting risk amid geopolitical tensions, rising bond yields and concerns about AI funding. That is his view, not a forecast.

Last week's purchase is covered in our previous note. For the live ETH price see the Ethereum page; for the wider picture, the daily summary.