BitMine Immersion Expands ETH Holdings to 3.505 Million ETH (2.9% of Supply) as Cash Reserves Rise to $3.98B

According to official disclosures, BitMine Immersion Technologies reports that its aggregate crypto assets, liquidity, and venture investments total $13.2 billion as of 8:00 PM EST on November 9. The portfolio includes ETH holdings of 3,505,723, BTC of 192, plus $61 million in Eightco Holdings equity and $398 million in unlevered cash. This composition reflects a diversified balance sheet across digital assets, equity stakes, and cash on hand.

Thomas Tom Lee, Chairman of Fundstrat Global Advisors, described the recent ETH price pullback as a tactical entry point. Over the last week, BitMine added 110,288 ETH, lifting total ETH to approximately 3.5 million and representing about 2.9% of circulating supply, progressing toward a 5% Alchemy exposure target.

Additionally, cash reserves expanded from $3.89 billion to $3.98 billion, underscoring disciplined liquidity management and a cautious funding stance in the current crypto environment.