Bitmine bought 8,573 ETH, bringing its holdings to 6,060,506 ETH worth about $13.7 billion, or 4.9% of Ethereum’s total supply. The company is now 99% of the way toward its goal of owning 5% of the network, which it reached in 15 months, and has bought ETH every week since launching its treasury strategy on June 30, 2025. Following the $6.4 billion Binance hack, Tom Lee noted that ETH’s 4% decline was modest compared with the 20% fall after the $1.5 billion Bybit theft in February 2025. He attributed the limited reaction to Binance’s ability to cover customer losses, the absence of a cascading decentralized-finance failure, the industry’s swift response and the FBI’s attribution of the hack to North Korea within two days. As of November 1, Bitmine reported $14.5 billion in total assets, including 5,227,037 staked ETH, while Strategy, which holds about 848,517 BTC, resumed its Bitcoin purchases with a $66 million investment.
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