BitMine Immersion (BMNR) Announces ETH Holdings Reach 3.73 Million Tokens, and Total Crypto and Cash Holdings of $12.1 Billion
Rhea-AI Summary
BitMine Immersion (NYSE AMERICAN: BMNR) reported total crypto, cash and "moonshots" holdings of $12.1 billion as of Nov 30, 2025. Holdings include 3,726,499 ETH valued at $3,008 per ETH, 192 BTC, a $36 million stake in Eightco Holdings (ORBS), and $882 million in unencumbered cash. BitMine acquired 96,798 ETH in the prior week and now owns more than 3.0% of ETH supply. The company said it accelerated purchases ahead of the Fusaka upgrade (scheduled Dec 3, 2025) and will hold its annual meeting on Jan 15, 2026.
Positive
- Total holdings of $12.1 billion
- 3,726,499 ETH holdings at $3,008 per ETH
- Acquired 96,798 ETH in the past week
- $882 million in unencumbered cash
Negative
- None.
News Market Reaction – BMNR
On the day this news was published, BMNR declined 12.62%, reflecting a significant negative market reaction. Argus tracked a peak move of +6.5% during that session. Argus tracked a trough of -6.4% from its starting point during tracking. Our momentum scanner triggered 94 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $1.84B from the company's valuation, bringing the market cap to $12.72B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers showed mixed moves: crypto-exposed names like IREN and MARA were modestly positive (1.9%, 2.2%), while other capital markets peers such as VIRT, XP, and PJT traded lower, pointing to a more stock-specific backdrop for BMNR.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 08 | Crypto holdings update | Positive | +5.2% | Raised crypto + cash holdings to $13.2B and ETH to 3.86M tokens. |
| Dec 01 | Crypto holdings update | Positive | -12.6% | Reported $12.1B assets and 3.73M ETH with accelerated accumulation. |
| Nov 24 | Crypto holdings update | Positive | +19.6% | Raised holdings to $11.2B with 3.63M ETH and ongoing accumulation. |
| Nov 21 | Earnings and dividend | Positive | -0.1% | Reported FY25 EPS $13.39, announced dividend, detailed MAVAN staking plan. |
| Nov 19 | Strategic advisor hire | Positive | -9.6% | Engaged DeMark Analytics to support ETH acquisition strategy toward 5% goal. |
BMNR’s repeated crypto treasury updates have produced mixed reactions, with several double-digit moves both up and down, indicating that similar positive-sounding ETH accumulation news has not yielded consistently positive price responses.
Over recent months, BitMine has repeatedly highlighted growth in its Ethereum treasury and overall crypto + cash + “moonshots” holdings, rising from $11.4 billion with 2.42 million ETH in late September 2025 to $13.4 billion with 3.03 million ETH by mid-October and then $11.2–$13.7 billion through November while ETH balances climbed above 3.6 million. Alongside this, the company reported FY25 EPS of $13.39 and initiated a dividend. Today’s ETH and holdings update continues that ongoing treasury-expansion narrative.
Regulatory & Risk Context
The company has an effective S-3ASR shelf registration dated 2025-07-28, expiring 2028-07-28, with at least 2 recorded 424B5 takedowns. This structure provides flexibility to raise additional capital, which can influence future dilution and funding capacity.
Market Pulse Summary
The stock dropped -12.6% in the session following this news. A negative reaction despite sizeable ETH and cash holdings would fit past divergences, where ostensibly positive crypto-treasury updates sometimes preceded drawdowns. The company reported $12.1B in crypto, cash, and moonshots and more than 3.0% of ETH supply, yet earlier announcements with growing ETH balances and high dollar trading volume have not always supported prices. The presence of an effective S-3ASR shelf and large proposed increase in authorized shares could also weigh on sentiment.
Key Terms
ETH financial
Bitcoin financial
quantitative tightening financial
staking technical
validator network technical
AI-generated analysis. Not financial advice.
BitMine now owns more than
BitMine Crypto + Cash Holdings + "Moonshots" total
BitMine accelerates its Ethereum accumulation ahead of the upcoming Fusaka upgrade, which is expected to significantly boost scalability, security, and overall network usability
BitMine will hold its annual shareholders meeting at the Wynn Las Vegas on January 15, 2026
BitMine leads crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of BMNR stock
BitMine is the 39th most traded stock in the US, trading
BitMine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support BitMine's goal of acquiring
As of November 30th at 6:30pm ET, the Company's crypto holdings are comprised of 3,726,499 ETH at
"In the past week, BitMine acquired 96,798 ETH tokens. As we look ahead to December, the Fusaka upgrade, aka Fulu-Osaka, is scheduled for activation December 3rd and delivers an array of improvements in scalability, enhanced security, and usability. The Federal Reserve is taking several key steps in December including ending QT (quantitative tightening) and is expected to cut interest rates again on December 10th. We are now more than 7 weeks past the October 10th liquidation shock event, meaning the crypto market has found its bearings again. Collectively, we see these acting as positive tailwinds for ETH prices and thus, we stepped up our weekly purchases of ETH by
BitMine crypto holdings reigns as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc. (MSTR), which owns 649,870 BTC valued at
"We continue to make progress on our staking solution known as The Made in America Validator Network (MAVAN). This will be the 'best-in-class' solution offering secure staking infrastructure and will be deployed in early calendar 2026," continued Lee.
The GENIUS Act and SEC's Project Crypto are as transformational to financial services in 2025 as US action on August 15, 1971 ending Bretton Woods and the USD on the gold standard 54 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.
BitMine is now one of the most widely traded stocks in the US. According to data from Fundstrat, the stock has traded average daily dollar volume of
BitMine will hold its annual shareholders meeting at the Wynn Las Vegas on January 15, 2026.
The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://bitminetech.io/investor-relations/
The Chairman's message can be found here:
https://www.bitminetech.io/chairmans-message
To stay informed, please sign up at: https://bitminetech.io/contact-us/
About BitMine
BitMine is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, whether acquired by our Bitcoin mining operations or from the proceeds of capital raising transactions. Company business lines include Bitcoin Mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in
For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
https://x.com/bmnrintern
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding progress and achievement of the Company's goals regarding ETH acquisition and staking, the long-term value of Ethereum, continued growth and advancement of the Company's Ethereum treasury strategy and the applicable benefits to the Company. In evaluating these forward-looking statements, you should consider various factors, including BitMine's ability to keep pace with new technology and changing market needs; BitMine's ability to finance its current business, Ethereum treasury operations and proposed future business; the competitive environment of BitMine's business; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at www.sec.gov. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE BitMine Immersion Technologies, Inc.
FAQ
How much crypto and cash does BitMine (BMNR) report as of Nov 30, 2025?
How many ETH tokens does BitMine (BMNR) hold and what percent of supply is that?
When is the Fusaka upgrade and why did BitMine accelerate ETH purchases for BMNR?
What recent ETH buying activity did BitMine (BMNR) disclose?
How liquid is BMNR stock according to the announcement?
