BitMine 现在已经持有 3% 的 ETH 流通量。距离实现所谓的 “5% 点金术（Alchemy of 5%）” 已经完成了三分之二的进程。 BitMine now has 3% of the ETH supply Two-thirds on the way to the ‘Alchemy of 5%’

Bitmine (NYSE-BMNR) $ETHThe alchemy of 5% of ETH

2025/11/24 20:20 UTC

观点原文

BitMine 现在已经持有 3% 的 ETH 流通量。

距离实现所谓的 “5% 点金术（Alchemy of 5%）” 已经完成了三分之二的进程。

BitMine now has 3% of the ETH supply

Two-thirds on the way to the ‘Alchemy of 5%’

Ethereum

相关观点

请跟我一起念：$ETH 是金融的未来。 Please repeat after me $ETH is the future of financeBitmine (NYSE-BMNR) $ETH · 2025/12/03
转同理，以太坊也是如此。 ETH 不是“一条普通区块链”。它是全球计算、金融、身份与 AI 智能体的可编程结算层。如果未来 15 年的最大需求冲击来自 AI，那么 ETH 就是承载这一切的“费用捕获层”（Fee Layer）。到 2041 年 ETH 涨到 150 万美元并不疯狂—— 甚至可以说是保守估计。Bitmine (NYSE-BMNR) $ETH · 2025/12/03
BitMine 公布了其截至 2025 年 11 月 24 日的最新持仓更新：总计 118 亿美元的加密资产 + “moonshots”（高风险押注）： 3,629,701 枚 ETH（按每枚 2,840 美元计价，来源：@coinbase） 192 枚比特币（BTC） 3,800 万美元的 Eightco Holdings（纳斯达克：ORBS）股票（“moonshots” 类资产） 8 亿美元的无负债现金（unencumbered cash） 2/ 以下是我们每周的购入量（按当周结束日统计）：每周 ETH 买入量： 2025/11/24：69,822 枚 ETH 2025/11/17：54,156 枚 ETH 2025/11/10：110,288 枚 ETH 2025/11/3：82,353 枚 ETH 2025/10/27：77,055 枚 ETH 2025/10/20：203,826 枚 ETH 2025/10/13：202,037 枚 ETH 2025/10/6：179,251 枚 ETH $BMNR 目前是全球最大的 ETH 国库，也是全球最大 ETH 持有者，整体加密资产规模仅次于 MicroStrategy（$MSTR），排名第二。 3/ Fundstrat 的 Thomas Tom Lee、BitMine 的董事长表示：“BitMine 现在已经收购了整个以太坊网络的 3%。过去一周，BitMine 又增持了 69,822 枚 ETH。 ‘美国制造验证者网络’（MAVAN）将成为业内最顶级的安全质押基础设施解决方案，并将在 2026 年初投入部署。” 4/ BitMine 现在是美国交易最活跃的股票之一。根据 @Fundstrat 的数据：$BMNR 的日均成交额为 16 亿美元（截至 2025 年 11 月 21 日的 5 日平均）。在 5,704 只美国上市股票中（数据来自 statista.com 与 Fundstrat 研究）： * 排名第 50 名 * 位于万事达卡（第 49 名）之后 * 领先于 Palo Alto Networks Inc（第 51 名） 5/ Fundstrat 的 Thomas “Tom” Lee、BitMine 董事长表示： “过去一周加密货币价格的持续下跌，反映了自 10 月 10 日以来流动性受损的状况，同时也反映了仍然疲弱的技术面。几周前我们曾指出，ETH 的潜在下行空间可能落在约 2,500 美元附近，而目前 ETH 的价格基本已到这一位置。这意味着风险回报出现明显不对称：下行空间仅约 5%～7%，而上行空间则对应以太坊即将到来的超级周期。” BitMine provided its latest holdings update for Nov 24th, 2025: $11.8 billion in total crypto + "moonshots": -3,629,701 ETH at $2,840 per ETH (@coinbase ) - 192 Bitcoin (BTC) - $38 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and - unencumbered cash of $800 million. 2/ 2/ Here are our weekly buys by week Weekly ETH buys (by week ending): -11/24/25: 69,822 ETH tokens -11/17/25: 54,156 ETH tokens -11/10/25: 110,288 ETH tokens -11/3/25: 82,353 ETH tokens -10/27/25: 77,055 ETH tokens -10/20/25: 203,826 ETH tokens - 10/13/25: 202,037 ETH tokens - 10/6/25: 179,251 ETH tokens $BMNR currently reigns as the largest ETH Treasury and largest holder of ETH in the world **second largest crypto treasury only behind Microstrategy $MSTR 3/ Thomas "Tom" Lee of Fundstrat, Chairman of BitMine @bitmnr said: "BitMine has now acquired 3% of the Ethereum network. In the past week, BitMine acquired 69,822 ETH tokens. The Made in America Validator Network (MAVAN) will be the 'best-in-class' solution offering secure staking infrastructure and will be deployed in early calendar 2026," 4/ BitMine is now one of the most widely traded stocks in the US. According to @Fundstrat, $BMNR traded average daily dollar volume of $1.6 billion (5-day average, as of Nov 21, 2025), - ranking #50 in the US, - behind Mastercard (rank #49) and - ahead of Palo Alto Networks Inc (rank #51) among 5,704 US-listed stocks (http://statista.com and Fundstrat research). 5/ Thomas "Tom" Lee of Fundstrat, Chairman of BitMine @bitmnr said: "The continued decline in crypto prices in the past week reflects the impaired liquidity since October 10th, as well as price technicals, which remain weak. A few weeks ago, we noted the likely downside for ETH prices would be around $2,500 and current ETH prices are basically there. This implies asymmetric risk/reward as the downside is 5% to 7%, while the upside is the supercycle ahead for Ethereum."Bitmine (NYSE-BMNR) $ETH · 2025/11/24
这是一个很好的决定！ ENS 名称和记录是一种“状态（state）”，它们处在以太坊生态系统的核心位置。这种状态在规模上是受限的，同时又具有很高的价值，因此越能在任何地方被便捷访问，就越有价值。它同时也是一种半金融应用：因为购买和持有 ENS 名称本身是有成本的，而且 ENS 名称有可能成长为非常有价值的资产。随着以太坊扩容路线图的推进，以太坊 L1 是承载这类应用的理想位置。更广泛地说，我认为去中心化身份和社交（我认为 ENS 就属于这一大类）的最优架构是：将每个用户的账户与个人资料数据放在 L1 上；再使用专用型的 L2（很可能比完整的 EVM 简单得多）来处理用户行为，例如社交平台上的各种操作。 It's a good decision! ENS names and records are a form of state that is central to the Ethereum ecosystem, the state is limited in size and there is high value in it being as accessible as possible from anywhere. It's also a semi-financial application, in the sense that buying and holding ENS names has a cost, and ENS names can become very valuable objects. With the expanded scaling roadmap, Ethereum L1 is the ideal place for these applications. More generally, I expect that the optimal architecture for decentralized identity and social (the general space I see ENS being in) is to have this kind of per-user account and profile data on L1, and to have special-purpose L2s, likely much simpler than full EVMs, to handle user actions (eg. actions on social platforms).Vitalik Buterin · 2026/02/07