--- title: "Bitmine adds 8,573 ETH, lifting holdings to 6.06 million Ether" description: "Bitmine added 8,573 ETH last week, bringing its holdings to 6.06 million ETH, The Block reported, as chairman Tom Lee pointed to the market's muted response…" language: en canonical: "https://whycoinmoves.com/en/events/ethereum-bitmine-adds-8-573-eth-57915b3ffec321" published: 2026-11-02T14:41:05.000Z updated: 2026-11-02T16:27:02.000Z indexable: true --- # Bitmine adds 8,573 ETH, lifting holdings to 6.06 million Ether Bitmine added 8,573 ETH last week, bringing its holdings to 6.06 million ETH, The Block reported, as chairman Tom Lee pointed to the market's muted response… Attributed sources: [The Block](), [Decrypt]() ## Key facts Bitmine added 8,573 ETH last week, bringing its holdings to 6.06 million ETH, The Block reported, as chairman Tom Lee pointed to the market's muted response to the Binance hack. Decrypt reported Lee cited a roughly 4% ETH drop after the theft and said the firm's stash was nearing its 5% supply goal. Evidence strength: Multiple publishers, 2 publisher group(s) (The Block, Decrypt). After site detection, observed returns were 5 minutes: -0.03% (difference from BTC +0.02 pts; Nov 2, 2026, 14:41 → Nov 2, 2026, 14:46, UTC; Gate · USDT); 1 hour: -0.37% (difference from BTC -0.15 pts; Nov 2, 2026, 14:41 → Nov 2, 2026, 15:41, UTC; Gate · USDT) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.68% (OKX · USDT; cutoff Nov 2, 2026, 14:41, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.03% | -0.05% | +0.02 pts | Nov 2, 2026, 14:41 → Nov 2, 2026, 14:46 | Gate · USDT | | 1 hour | -0.37% | -0.22% | -0.15 pts | Nov 2, 2026, 14:41 → Nov 2, 2026, 15:41 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.19% | | 99th percentile of absolute hourly returns | 1.68% | | BTC beta | 1.24 | | Source / cutoff (UTC) | OKX · USDT / Nov 2, 2026, 14:41 | ## Claims and open questions - Bitmine added 8,573 ETH last week, lifting its holdings to 6.06 million ETH, according to The Block. - Tom Lee flagged the muted market response to Binance's hack, The Block reported. - Decrypt reported that Lee cited a 4% ETH drop after the record Binance theft and said the firm's stash neared its 5% supply goal. - What is the exact size of Bitmine's stated 5% supply target in ETH, and what would confirm the company has reached it? - Which six reasons did Tom Lee give for calling the market reaction bullish, and where were they published in full? ## Source evidence - [Bitmine adds 8,573 ETH as Tom Lee flags muted Binance hack reaction]() — The Block; published Nov 2, 2026, 14:40; received Nov 2, 2026, 14:41 (UTC). - [Bitmine Buys More Ethereum as Tom Lee Calls the Binance Hack Bullish]() — Decrypt; published Nov 2, 2026, 16:23; received Nov 2, 2026, 16:25 (UTC). ## Recent ETH events and market reactions - [FBI links North Korea to $6 billion Binance hack, flags BTC, ETH and SOL addresses]() — Published Nov 1, 2026, 01:10 (UTC) · Single source (1 publisher) · Security · 5m +0.03% / 1h +0.13% / 24h +0.92% - [Ethereum upgrade tied to Binance breach that drained part of $6 billion loss]() — Published Oct 30, 2026, 11:35 (UTC) · Single source (1 publisher) · Security · 5m -0.14% / 1h -0.51% / 24h -0.02% - [Crypto liquidations reach $1.57 billion as Binance hack pressuures bitcoin and ether]() — Published Oct 30, 2026, 11:09 (UTC) · Single source (1 publisher) · Security · 5m -0.10% / 1h -0.16% / 24h -0.01% - [Binance breach of about $6.3 billion sends bitcoin and ether lower]() — Published Oct 30, 2026, 04:00 (UTC) · Single source (1 publisher) · Security · 5m -0.07% / 1h +0.74% / 24h +0.38% - [CFTC chair says AI agents could challenge rules built around human traders]() — Published Oct 29, 2026, 04:39 (UTC) · Single source (1 publisher) · Regulation · 5m +0.05% / 1h +0.31% / 24h -3.17% - [Full coin archive]() ## Research for this archive - [Crypto hacks and price impact: Bybit and Cetus case studies]() - [Why is crypto moving? How to check the evidence]() - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() Evidence levels describe source coverage, not the probability that a report is true. Price moves and their timing cannot establish a cause; minute samples show an observed interval and alert thresholds are heuristics. Explanations are model-assisted, with citations and figures checked. Source titles stay in their original language; full articles are not republished. [Methods and limitations]()