TLDR
- BitMine grows $11.8B crypto trove, now holding 2.9% of Ethereum’s supply.
- Targets 5% ETH ownership, reinforcing leadership in crypto treasuries.
- Predicts next crypto peak between 2026–2028 based on data-driven models.
- Ethereum tokenization to reshape markets and drive adoption growth.
- BitMine stock dips 1.14% despite reaffirmed long-term crypto strategy.
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BitMine Immersion Technologies (NASDAQ: BMNR) saw its stock fall 1.14% to $34.01 after early trading volatility.
Bitmine Immersion Technologies, Inc., BMNR
The decline came despite the company reaffirming its long-term strategy in the November Chairman’s message. BitMine highlighted its $11.8 billion crypto and cash holdings while strengthening its focus on Ethereum accumulation.
BitMine Expands Crypto Holdings and Targets 5% ETH Ownership
BitMine confirmed total assets of $11.8 billion, including 3.6 million Ethereum (ETH), 192 Bitcoin (BTC), and $607 million in cash. The company now owns 2.9% of the total ETH supply, marking progress toward its target of 5%. It also reported a $37 million stake in Eightco Holdings under its “moonshots” investment portfolio.
The company’s holdings position BitMine as the largest Ethereum treasury and the second-largest global crypto treasury. Its Ethereum holdings alone were valued at over $11 billion based on Bloomberg data as of November 16. This reinforces BitMine’s leadership in the crypto treasury space amid a recovering digital asset market.
Moreover, BitMine emphasized its strategy to increase crypto net asset value (NAV) per share faster than peers. It continues to outperform competitors in liquidity and treasury growth. The company stated that it aims to maintain momentum as crypto prices stabilize following October’s market turbulence.
Five Factors Shaping the Crypto Cycle Outlook
The November Chairman’s message identified five major factors driving the ongoing four-year crypto price cycle. BitMine concluded that two of these hold strong predictive value, suggesting the next market peak may occur between 2026 and 2028. The company expects continued price appreciation supported by fundamental and macroeconomic catalysts.
BitMine noted that recent market weakness stems from liquidity constraints among key market makers. The firm compared this condition to a temporary phase of quantitative tightening for digital assets. It anticipates a recovery as market liquidity improves through the fourth quarter.
BitMine’s leadership believes that the current phase mirrors past cycles in duration but differs in structural dynamics. Therefore, it remains confident that this crypto cycle’s peak will extend beyond historical timelines. The message reinforced the firm’s data-driven conviction in long-term digital asset accumulation.
Ethereum Tokenization and Market Transformation
BitMine emphasized Ethereum’s growing role in the tokenization of traditional assets such as stocks, bonds, and real estate. It described tokenization as a major innovation that enables fractional ownership and transparent asset management on blockchain networks. This shift, it stated, enhances market efficiency and unlocks new opportunities for investors and issuers alike.
BitMine expects upcoming Ethereum upgrades, including the Fusaka update, to accelerate network adoption. These technological advancements, combined with stablecoin expansion, strengthen Ethereum’s position as a dominant blockchain ecosystem. Consequently, BitMine continues aligning its treasury strategy with Ethereum’s evolving economic framework.
The company reaffirmed its long-term vision to build a diversified crypto treasury while maintaining high stock liquidity. BitMine’s average daily trading volume reached $1.4 billion, ranking it as the 48th most traded U.S. stock. The firm’s expanding market presence underscores its role as a leading crypto-equity platform bridging digital and traditional finance.
