Beast

Made in America

Ethereum

Tom Lee

<h3 id="h-key-insights" class="wp-block-heading"><strong>Key Insights:</strong></h3>
<ul>
 <li>BMNR stock price surged 3% after Bitmine added 8,573 ETH this week, bringing holdings to 6.06M.</li>
 <li>The company now holds 4.9% of the total Ethereum supply.</li>
 <li>The firm reported 5,227,037 ETH staked and $14.5 billion in assets.</li>
</ul>
<p>BitMine stock shares gained 3.24% on Nov. 2, while the company disclosed another weekly Ethereum purchase.</p>
<p>The BMNR stock price reached $20.84 at 10:18:10 a.m. UTC−5, up $0.66 from the previous close of $20.19.</p>
<p>BitMine reported 6,060,506 ETH in holdings, and Chairman Tom Lee discussed the separate $6.3 billion Binance hack.</p>
<h2 id="h-bitmine-stock-performance-amid-latest-ethereum-buy" class="wp-block-heading"><strong>BitMine Stock Performance Amid Latest Ethereum Buy</strong></h2>
<p>BMNR stock price opened at $20.36 and moved between $20.27 and $20.93 during the displayed session. Trading volume stood at 3.68 million shares, compared with an average daily volume of 32.29 million.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img width="1014" height="382" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/11/724faeab3146ee28eb867787473db2cd7eb2bb32af32fd9529ad3f96e02ad16d-1.png" alt="BitMine (BMNR) Stock Performance | Source. Yahoo Finance">
  <figcaption>
   BitMine (BMNR) Stock Performance | Source. Yahoo Finance
  </figcaption>
 </figure>
</div>
<p>BitMine bought 8,573 ETH over the week ending Nov. 1. It has reported purchases every week since its ETH treasury strategy began on June 30, 2025.</p>
<p>That purchase brought BitMine’s Ethereum balance to 6,060,506 ETH, valued at $2,261 per token in the company’s Nov. 2 announcement. The total equals about 4.9% of Ethereum’s stated circulating supply of 122.2 million tokens.</p>
<p>BitMine said <a href="https://www.thecoinrepublic.com/2026/10/22/the-ethereum-supply-signal-hidden-in-bitmines-390m-deposit/" rel="noopener noreferrer nofollow">its crypto holdings</a>, cash, marketable securities, and other investments totaled approximately $14.5 billion. The disclosed mix included $498 million in cash and marketable securities, plus 216 bitcoin.</p>
<p>BitMine also listed a $180 million stake in Beast Industries and an $82 million stake in Eightco Holdings. The company categorized both positions as moonshots within its wider holdings announcement.</p>
<p>By Nov. 1, BitMine had staked 5,227,037 ETH, which the company valued at about $11.8 billion. Some tokens sit on MAVAN, BitMine’s Made in America Validator Network, launched earlier this year.</p>
<p>Lee estimated full-scale staking could generate $415 million annually, based on the company’s 3.03% seven-day yield. He said the estimate assumed BitMine staked its holdings through MAVAN and institutional partners.</p>
<p>The stock data panel listed a $12.57 billion market capitalization and 603.23 million shares outstanding. It showed a 52-week range of $12.80 to $44.88, a beta of 2.06, and an EPS of -$20.88.</p>
<p>BitMine’s listed dividend yield stood at 0.05%, while the quarterly dividend appeared as $0.00. The company’s announcement focused on its treasury holdings and staking activity.</p>
<h2 id="h-bitcoin-security-and-ethereum-market-data" class="wp-block-heading"><strong>Bitcoin Security and Ethereum Market Data</strong></h2>
<p>Reuters reported Binance customers withdrew a net $4.72 billion after the exchange reopened following the hack. Binance said withdrawals represented about 3% of platform assets and reported $2.7 billion in customer inflows.</p>
<p>BitMine’s <a href="https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-6-06-million-tokens-and-total-crypto-and-total-cash--marketable-securities-holdings-of-14-5-billion-302926341.html" rel="noopener noreferrer nofollow">release said</a> Binance could cover customer losses, and industry action reduced potential losses by 50%. Lee called the market response a “muted market reaction” and cited the absence of DeFi failures.</p>
<p>Lee described the incident as a contractor infiltration of Binance’s corporate systems, rather than a blockchain exploit. The BitMine release said the FBI attributed the attack to North Korea.</p>
<p>Lee compared the incident with <a href="https://www.thecoinrepublic.com/2025/02/27/bybit-hack-heres-the-latest-from-forensic-audit/" rel="noopener noreferrer nofollow">Bybit’s February 2025 hack</a>, when $1.5 billion in customer crypto was stolen. BitMine said ETH fell 8% on Bybit’s announcement day but declined 4% after Binance disclosed its breach.</p>
<p>Separately, BTCPay Server identified <a href="https://www.thecoinrepublic.com/2026/11/02/bitcoin-news-btcpay-server-hack-drains-wallets-exposes-flaw/" rel="noopener noreferrer nofollow">an attack vector</a> affecting software versions 2.4.1 and earlier. The project reported no credible hot-wallet thefts involving version 2.4.7 and urged operators to update.</p>
<p>BTCPay had not disclosed the number of affected operators or total stolen funds. The platform asked affected users to submit information and logs to its security team.</p>
<p>Blockchain analytics firm Bitquery traced approximately $1.63 million in bitcoin and Litecoin transfers to two addresses tied to the incident. Its analysis counted 682 sweeps between Oct. 30 and Nov. 2, with more than 99% still at those addresses.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img width="1024" height="591" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/11/9f2215ef1a8b577fa0db98b8ea6cbd0dc669361c6b3ee6a1060af40f57777aa0-1-1024x591.png" alt="Ethereum Price Performance | Source: Yahoo Finance">
  <figcaption>
   Ethereum Price Performance | Source: Yahoo Finance
  </figcaption>
 </figure>
</div>
<p>Ethereum crypto traded at $2,279.61, up 0.6% over 24 hours, after moving between $2,250.90 and $2,309.52. ETH remained down 0.7% weekly, 4.8% over two weeks, and 14.8% over 30 days.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2026/11/02/bitmine-stock-surges-3-after-adding-8573-ethereum-crypto/" rel="noopener noreferrer nofollow">Bitmine Stock Surges 3% After Adding 8,573 Ethereum Crypto</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Bitmine Stock Surges 3% After Adding 8,573 Ethereum Crypto

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 3, 2026

Join our free newsletter for daily crypto updates!