# Bitmine Buys $20M Ether, Hits 4.97% Ethereum Hold

> Bitmine's $20 million ether purchase pushes its Ethereum holdings to 4.97% of total supply, nearing 5% target.
- Title: Bitmine Buys $20M Ether, Hits 4.97% Ethereum Hold | Shortify
- Summary: Bitmine's $20 million ether purchase pushes its Ethereum holdings to 4.97% of total supply, nearing 5% target.
- Keywords: bitmine, eth, ethereum, ethereum supply, ethereum treasury, ethereum staking, mavan platform, vitalik buterin, markets, BigGo Finance
- Source: BigGo Finance — https://finance.biggo.com/news/1ca85225-da85-4304-84dd-f466cee09474
- Author: BigGo Finance
- Published: 2026-11-09T22:05:18+00:00
- Read time: 1 min
- Topics: bitmine, eth, ethereum, ethereum supply, ethereum treasury, ethereum staking, mavan platform, vitalik buterin, finance, markets
## Bitmine's Ether Purchase
Bitmine Immersion Technologies bought 9,587 ether worth about $20 million last week, bringing its treasury to 6,070,092 tokens.
## Treasury Reaches 4.97%
The company's Ethereum treasury now holds 4.97% of Ethereum's total supply, 15 months after launching the strategy.
## Total Holdings
Total holdings, including 216 bitcoin and $475 million in cash, stood at $14.3 billion as of Nov. 8.
## Staked Ether Value
About 5.2 million ether is staked through Bitmine's MAVAN platform, valued at $11.1 billion.
## Vitalik Buterin's Validation
Chairman Tom Lee cited Vitalik Buterin's Devcon 8 declaration that ether is a store of value as validation of the accumulation strategy.
## Stock Reaction
Bitmine shares fell more than 4% in premarket trading, approaching historical support near $17.80.
## Key takeaway

Bitmine Immersion Technologies bought $20 million in ether, bringing its Ethereum treasury to 4.97% of total supply.