Bitmine’s Holdings Value Falls to $15.1 Billion Even as Its Ether Stash Keeps Growing

Bitmine Immersion Technologies (NYSE: BMNR) added 12,535 ETH in the past week, lifting its ether stash to 6,041,481 ETH, even as the dollar value of everything it owns dropped for a second week in a row, the company said on Monday.

Bitmine put its crypto, cash, marketable securities and “moonshot” stakes at a combined $15.1 billion as of 3 p.m. ET on Oct. 18. Its weekly updates showed $16.2 billion on Oct. 12 and $17.4 billion on Oct. 5. The decline comes as the most recent release valued its ether at $2,365 per token, a Coinbase price, versus $2,544 in the prior week’s update.

Besides ether, Bitmine listed 215 BTC, a $180 million stake in Beast Industries, a $74 million stake in Eightco Holdings (NASDAQ: ORBS), and $582 million in cash and marketable securities.

Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.

In the release, Bitmine Chair Tom Lee said investor risk appetite had “contracted in the past few weeks” amid worries over AI funding and AI model safety, fighting between the U.S. and Iran, the coming U.S. midterm elections and rising bond yields worldwide. Selling in AI-linked chip and memory stocks spread to markets in Korea and Taiwan, he said, and because crypto is widely held there and in the U.S., that de-risking “creates spillover pressures in crypto markets.”

When fundamentals hold up while prices fall, Lee said, those periods have “historically been attractive risk/reward opportunities.”

The latest purchase is almost exactly the size of the 12,532 ETH Bitmine bought the week before, which followed buys of 15,112 ETH and 17,362 ETH. Lee said in the release that the company “has bought ETH each and every week” since starting its ether treasury strategy on June 30, 2025.

Bitmine’s ether equals 4.9% of the 122.1 million ETH supply, short of its stated goal of owning 5%. At that supply figure, 5% works out to about 6.1 million ETH, or roughly 63,500 more than it holds now.

Staked ether stood at 5,067,309 ETH, the same figure Bitmine gave a week earlier. Lee said in the release that if all of its ether were staked through MAVAN, the company’s own validator network, and its partners, the projected reward would be “$369 million on an annualized basis” at a 2.58% seven-day yield. He compared that with $309 million in annualized revenue from the ether already staked.

Related Listen: Why Sharplink Never Took on Debt Like Strategy Has

{"@context":"http:\/\/schema.org\/","@id":"https:\/\/unchainedcrypto.com\/bitmines-holdings-value-falls-to-15-1-billion-even-as-its-ether-stash-keeps-growing\/#arve-youtube-gtkcbrxpg4q","@type":"VideoObject","embedURL":"https:\/\/www.youtube-nocookie.com\/embed\/gTKCBRXPg4Q?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=1&autoplay=0"}

The post Bitmine’s Holdings Value Falls to $15.1 Billion Even as Its Ether Stash Keeps Growing appeared first on Unchained.