Tom Lee’s Bitmine Immersion disclosed that it bought more Ethereum in the past week despite a market selloff. The announcement came as ETH traded near $2,025, down by 4% in 24 hours and 12% over seven days. Bitmine said its crypto, cash, and “moonshots” holdings now total $10.0 billion, as most digital assets and crypto stocks declined.
Bitmine Expands Ethereum Treasury Despite ETH Dip
In its disclosure, the company revealed that it acquired 40,613 ETH over the past week amid Ethereum’s crash below $2,000. The company’s chairman, Tom Lee, remarked that the firm viewed the pullback as attractive due to what he described as stronger Ethereum fundamentals. Lee also said Bitmine believes ETH’s price does not match its utility.
The company reported total crypto holdings of 4,325,738 ETH valued at $2,125 per coin, along with 193 Bitcoin. It also disclosed a $200 million stake in Beast Industries and a $19 million stake in Eightco Holdings. In addition, Bitmine reported total cash of $595 million.
Bitmine Ethereum holdings now represent 3.58% of the total ETH supply, listed at 120.7 million ETH. The company also reported that as of Feb. 8, 2026, it had staked 2,897,459 ETH. Based on its $2,125 reference price, the staked balance was valued at about $6.2 billion.
Staking Yield Climbs as BMNR Stock Dips
Lee said Bitmine’s staking rewards could reach $374 million annually once all ETH is fully staked through MAVAN partners. He based that estimate on a 3.115% CESR. He also stated the company’s annualized staking revenues now stand at $202 million, up 7% over the past week.
Lee added that Bitmine’s own staking operations produced a 7-day annualized yield of 3.3234%. He also said Bitmine continues developing its Made in America Validator Network, known as MAVAN.
According to Lee, Bitmine plans to deploy MAVAN in early calendar year 2026 and is working with three staking providers. Bitmine is the top Ethereum treasury and the second-largest global crypto treasury holder.
This is behind Strategy Inc, which acquired 1,142 BTC today despite a $5B unrealized loss on Bitcoin holdings. Meanwhile, BMNR stock fell from its prior close of $20.47 to $20.26 today, marking a 1% decline.
Source: Yahoo Finance
Some Ethereum Whales Sell Amid Crash
According to Lookonchain data, TrendResearch has completed its Ethereum selloff. TrendResearch deposited 651,757 ETH worth $1.34 billion into Binance. It reportedly sold at an average price of $2,055, with a total loss of nearly $747 million.
Additionally, Lookonchain reported a wallet linked to the Infini exploit resurfaced after months of inactivity. The wallet spent $13.32 million in DAI to buy 6,316 ETH at $2,109. Shortly afterward, it moved 15,470 ETH, worth about $32.6 million, to Tornado Cash.
There has been prior activity tied to the same wallet, including buying 17,696 ETH in February 2025 after stealing 49.5 million USDC. It later sent 5,000 ETH to Tornado Cash in July 2025 and sold smaller batches near $3,322 and $4,202.
Source: https://coingape.com/tom-lees-bitmine-adds-40613-eth-now-owns-3-58-of-ethereum-supply/
