Key insights
- Bitmine stock traded nearly flat after the company reported buying 9,587 ETH during the week.
- BitMine reported 6,070,092 ETH and combined crypto, cash, securities, and moonshot holdings worth $14.3 billion.
- The company reported 5,227,037 ETH staked through MAVAN as of Nov. 8.
Bitmine stock traded nearly flat on Nov. 9 after the Ethereum treasury company reported a weekly purchase of 9,587 ETH.
BitMine valued its combined crypto, cash, marketable securities, and moonshot holdings at $14.3 billion.
Bitmine Stock Stays Near Its Previous Close
BMNR stock stood at $18.75 at 1:46 p.m. UTC−5, down $0.005, or 0.03%, from its previous close of $18.76. Bitmine stock opened at $18.09 and climbed to $19.46 before giving back most of their gains. Later, BMNR stock traded in a narrower range near $18.75.
The screenshot above lists a Bitmine stock price session low of $17.98 and a volume of 17.98 million shares.
Bitmine Stock Treasury Update Lists 6.07 Million ETH
As of Nov. 8, BitMine held 6,070,092 ETH valued at $2,234 each, using pricing from Coinbase. The company said its ETH represented 4.97% of the 122.2 million ETH supply.
BitMine also reported 216 BTC, a $180 million stake in Beast Industries, and a $75 million stake in Eightco Holdings. It classified those two equity positions as moonshots. The company listed another $475 million in cash and marketable securities.
Chairman Thomas Lee said BitMine acquired 9,587 ETH over the past week. He also mentioned how the company had purchased ETH weekly since launching its treasury strategy on June 30, 2025.
Ethereum Crypto as a Store of Value
Lee connected the buying strategy with Ethereum co-founder Vitalik Buterin’s comments at Devcon 8 in Mumbai. Buterin described ETH as a store of value and money.
Lee linked that view to ETH’s role in tokenization and artificial intelligence. He described ETH as trusted collateral rather than a cash-flow token like HYPE or LIT.
Lee also said Ethereum serves as the layer-one network many financial institutions choose to move assets on-chain. In an X post, Buterin outlined three reasons for emphasizing ETH’s store-of-value role. He said fee burning had proved less powerful than expected.
He also said optimizing for fee burns could conflict with decentralization and capture resistance. Finally, he connected a store-of-value focus with Ethereum’s decentralization and CROPS.
Lee said that focus aligns with Ethereum’s roadmap and potential role in tokenization. On Oct. 7, he released a chairman’s message describing the current crypto cycle as potentially the largest.
BMNR Stock Update Includes MAVAN Staking Figures
As of Nov. 8, BitMine reported 5,227,037 ETH staked, valued at $11.7 billion using a $2,234 ETH price. Lee said the company had staked more ETH than any other entity.
He projected $359 million in annualized staking rewards when the company fully stakes its ETH through MAVAN and partners. That estimate used a 2.65% trailing seven-day yield as of Nov. 8.
Lee compared that projection with $309 million in annualized rewards based on 5.2 million ETH staked. That amount represented 86% of BitMine’s reported 6.07 million ETH holdings.
Shifting the focus from Bitmine stock and Ethereum purchases, ETH crypto traded at $2,124.23 on Nov. 9, down 4.9% over 24 hours, according to CoinGecko. Its 24-hour range ran from $2,084.89 to $2,234.57.
ETH price fell from above $2,220 early in the session, briefly rebounded, and then approached the daily low. It later recovered toward $2,140 before easing near $2,124.
Price charts showed ETH crypto down 0.4% over one hour, 6.3% over seven days, and 8.4% over 14 days.
Earlier, analyst Ted Pillows described Ethereum price as consolidating around support. The Coin Republic reported that Pillows saw a potential move toward $2,350–$2,400 the following week if buyers defended the $2,200–$2,250 area.
This article provides financial information, not investment advice. Stocks and cryptocurrencies carry substantial market, liquidity and operational risks. Staking projections do not guarantee returns. Readers should conduct independent research and consult qualified financial professionals before making investment decisions.
