Key Highlights:
- Bitmine announced that it holds $9.6 billion in crypto, cash and other assets.
- Staked ETH generates $171 million every year and with the Made in America Validator Network (MAVAN) the earnings in the future will increase.
- Top investors back Bitmine, which keeps buying Ethereum (ETH) even though the price is struggling as of now.
Bitmine Immersion Technologies, a major Ethereum player, announced today, February 23, 2026 that its total crypto, cash and high risk investments now equal $9.6 billion as of February 22, 2026.
The company as of now holds 4,422,659 ETH which is worth $1,958 each which totals around $8.5 billion, down nearly $8.4 billion from its average purchase price of $3,821 per ETH due to a “mini crypto winter.”
Last week, Bitmine bought 51,162 ETH for $98.33 million and with this it brings Ethereum stakes to 3.66% of the 120.7 million supply. This achieves more than 73% of its goal to hold 5% of all ETH in just seven months.
Tom Lee(@fundstrat)’s #Bitmine bought another 51,162 $ETH($98.33M) last week and now holds 4,422,659 $ETH($8.5B).
The average cost is ~$3,821.
At current prices, this position is down nearly $8.4B.https://t.co/FvnCMQVO0Q pic.twitter.com/IxHeU3y9O1
— Lookonchain (@lookonchain) February 23, 2026
Bitmine’s Staking and Other Assets Continue to Grow
According to the press release, Bitmine has 3,040,483 ETH which are worth $6 billion staked, earning $171 million per year at a 2.89% weekly yield which is slightly higher than the standard Ethereum staking rate of 2.81%. Once their new Made in America Validator Network (MAVAN) launches in Q1 2026 with three providers, staking could generate $249 million annually.
Other assets include 193 BTC, $200 million in Beast Industries, $17 million in Eightco Holdings (NASDAQ: ORBS), and $691 million in cash. Chairman Tom Lee said Ethereum’s fundamentals are getting strong and it is all because of Wall Street tokenization, AI on blockchains and blockchain verification for creators.
“We discussed this operational strategy in our latest Chairman’s message. While crypto prices are attempting to find their respective lows, the three fundamental drivers for Ethereum continue to gain traction: (i) Wall Street and their efforts at tokenization; (ii) AI and agentic-AI using smart blockchains for both execution and for collecting payments and (iii) the emerging creator economy and their desire to use blockchains for verification.”
-Tom Lee.
Bitmine Doubles Down on Ethereum Despite Market Losses
Bitmine continues buying Ethereum even though the prices are super low at the moment. At press time, the price of the token stands at $1,922.06 with a drop of 1.4% in the last 24-hours as per CoinGecko.
Bitmine claims the #1 Ethereum treasury globally and #2 overall crypto treasury right after Strategy Inc. Its BMNR stock ranks #165 among 5,704 US-listed stocks by trading volume, averaging $0.7 billion daily.
The company also has a strong backing as it includes investors such as Cathie Wood (ARK), Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, Bill Miller III, and Lee himself.
With improvements within the crypto space with GENIUS Act and SEC Project Crypto, Lee thinks that crypto is putting an end to 1971’s end of the Bretton Woods system and predicts a major Wall Street transformation.
Also Read: BitMine Chair Urges Shareholders to Approve Major Share Increase