Bitmine Stacks More ETH, Now Holds $9.6B in Crypto

Key Insights:

• Bitmine now holds 4.42 million ETH, equal to 3.66% of total supply.
• Over 3.04 million ETH are staked, generating $171 million annualized staking revenue.
• Total crypto, cash, and equity holdings reach $9.6 billion as accumulation continues.

Bitmine Immersion Technologies (NYSE American: BMNR) said its total crypto and cash holdings reached $9.6 billion as of Feb. 22, 2026. The company now holds 4,422,659 Ethereum tokens after buying 51,162 ETH over the past week.

At $1,958 per ETH, the Ethereum position is valued at about $8.7 billion. Bitmine also holds 193 Bitcoin, $691 million in cash, and equity stakes totaling $217 million in Beast Industries and Eightco.

Ethereum Holdings Reach 3.66% of Total Supply

Bitmine said its 4.423 million ETH represent 3.66% of Ethereum’s 120.7 million supply. The company stated it is over 73% of the way toward its target of holding 5% of all ETH.

Chairman Thomas “Tom” Lee said, “In the midst of this ‘mini crypto winter,’ our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH.” He said the company views the recent pullback as favorable for long-term accumulation.

3.04 Million ETH Staked

As of Feb. 22, Bitmine reported that 3,040,483 ETH are staked. At $1,958 per ETH, that stake equals about $6.0 billion. Staked ETH accounts for roughly 69% of total holdings.

Lee said, “Annualized staking revenues are now $171 million.” He added that staking rewards could reach $249 million annually once all ETH is deployed through the Made in America Validator Network, or MAVAN, which the company plans to launch in early 2026.

Trading Activity and Investor Backing

Bitmine described itself as the largest Ethereum treasury company and second among crypto treasuries behind Strategy Inc., which holds 717,131 Bitcoin. According to company data, BMNR trades about $0.7 billion in daily volume based on a five-day average, ranking 165th among U.S.-listed stocks.

The company listed institutional supporters including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, Bill Miller III, and Thomas “Tom” Lee. It also confirmed a $200 million investment in Beast Industries as part of its broader holdings.

Separately, Onchain Lens reported that Vitalik Buterin sold 428.57 ETH for $850,178 in GHO. Since Feb. 2, he has sold 7,386 ETH for $15.51 million at an average price of $2,100, based on the shared wallet address.

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