Key Notes
- The company increased weekly ETH purchases by 39%, acquiring 96,798 tokens ahead of the December 3 Fusaka network upgrade.
- BMNR stock ranks as the 39th-most-traded US equity with $1.7 billion in average daily volume, surpassing General Electric.
- BitMine maintains the world's largest ETH treasury and plans to launch a staking validator network in early 2026.
BitMine Immersion Technologies (NYSE American: BMNR) reported holdings of 3.73 million ETH tokens as of November 30, equating to more than 3% of the Ethereum ETH $2 808 24h volatility: 7.2% Market cap: $338.44 B Vol. 24h: $37.99 B token supply.
This marks two-thirds of the way toward the company’s “Alchemy of 5%” objective. Total crypto, cash, and other holdings reached $12.1 billion, including 192 Bitcoin BTC $86 752 24h volatility: 4.8% Market cap: $1.73 T Vol. 24h: $93.24 B , a $36 million stake in Eightco Holdings, and $882 million in unencumbered cash, according to their announcement .
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BitMine provided its latest holdings update for Dec 1st, 2025:$12.1 billion in total crypto + "moonshots":
-3,726,499 ETH at $3,008 per ETH ( @coinbase )
– 192 Bitcoin (BTC)
– $36 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– unencumbered cash of $882…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) December 1, 2025
BitMine Accelerates ETH Purchases Ahead of Ethereum Upgrade and Fed Decisions
Thomas Lee , Fundstrat chairman and BitMine leader, noted the firm bought 96,798 ETH in the past week, a 39% increase in weekly purchases. Purchases accelerated ahead of the Fusaka upgrade , set for December 3, which promises gains in scalability, security, and network usability.
Lee also pointed to the Federal Reserve moves , including ending quantitative tightening and a projected rate cut on December 10, as supportive factors following the October 10 market event.
BMNR Stock Maintains a High Liquidity Status
BMNR ranks as the 39th-most-traded US stock, with a five-day average daily volume of $1.7 billion, ahead of General Electric. On December 1, shares traded between $29 and $31, with volume exceeding 30 million shares, up from an average of 54 million, and it is the 5th-most-traded stock, with 34.7 million shares traded, according to Yahoo! Finance . The stock’s 52-week range spans $3.20 to $161, reflecting volatility tied to crypto treasury announcements and the price of Ethereum.
Graph of BitMine’s shares. Source: Yahoo! Finance.
BitMine holds the most extensive ETH treasury globally, widening the gap, and is the second-largest overall crypto treasury after Strategy Inc. Backers of its stocks include ARK’s Cathie Wood , Founders Fund, Pantera, and Kraken. With all this impetus, the firm plans to launch a staking solution, the Made in America Validator Network, in early 2026 to optimize its use of its Ethereum treasury.
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