Bitmine disclosed it holds 4,371,497 ETH valued at $1,998 per token, putting its Ethereum position near $8.7 billion. The company also reported total holdings of $9.6 billion when adding 193 Bitcoin, a $200 million stake in Beast Industries, a $17 million stake in Eightco Holdings, and $670 million in cash. As of February 16, Bitmine has confirmed that its ETH holdings equal 3.62% of the total 120.7 million ETH supply. That puts the company more than 72% of the way toward its stated “Alchemy of 5%” target in seven months. The balance sheet combines crypto, cash, and what the company calls “moonshots” for the $9.6 billion total. Bitmine expands Ethereum position and treasury scale Bitmine reported 3,040,483 staked ETH, valued at $6.1 billion at $1,998 per token. That equals about 69% of the total 4.37 million ETH it holds. The company said annualized staking revenue stands at $176 million. It also projected that when all ETH is fully staked through MAVAN and partners, annual rewards could reach $252 million based on a 2.89% 7-day BMNR yield. The Composite Ethereum Staking Rate administered by Quatrefoil stands at 2.84%. Bitmine said its own staking operations generated a 7-day yield of 2.89% annualized. The company is building The Made in America Validator Network, known as MAVAN, and said deployment is planned for early calendar 2026. It is working with three staking providers ahead of that rollout. “In the past week, we acquired 45,759 ETH,” said Tom Lee. “Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.” Bitmine stated it has staked more ETH than any other entity globally. The company continues to acquire ETH regardless of short-term price action. Bitmine outlines market backdrop and investor base Tom said, “After spending the past week at Consensus Hong Kong, one of the largest global gatherings in crypto, we came away with a growing conviction that 2026 will be a defining year for Ethereum.” He then pointed to three big forces driving usage. He said Wall Street is pushing tokenization and privacy use cases on Ethereum. He said AI and AI agents are using Ethereum for payments and verification. He also said creators are leaning toward proof of human standards on Ethereum L2 networks like Worldchain. Tom added that multiple panels focused on these themes and said Ethereum’s neutrality, uptime, and reliability put it in a strong position to gain share. “Investor sentiment and enthusiasm, by contrast, are rock bottom, reminding us of the forlornness and dejection seen at the November 2022 lows and depths of 2018 crypto winter. During 2018 and 2022, there were many high profile failures of large players (FTX, 3 arrows in 2022) while 2025-2026 has not seen such large-scale debacles. Rather, it seems like crypto has remained weak since the ‘price shock’ and massive deleveraging seen on October 10th. For us at Bitmine, we cannot control the price of Ethereum, and the company is acquiring ETH regardless of price trend, as the long-term outlook for Ethereum remains outstanding. Hence, we continue to buy ETH even as crypto moves through this ‘mini-winter,’” said Lee. Bitmine ranks among top treasuries and most traded stocks Bitmine holds the position of largest Ethereum treasury and ranks second globally among crypto treasuries, and the company swears that it leads crypto treasury peers in raising crypto NAV per share and in trading liquidity of BMNR stock. According to Fundstrat data, BMNR trades an average of $0.9 billion per day over a five-day average as of February 13, 2026. That makes it the 158th most traded stock in the United States, behind KKR at 157 and ahead of CBRE at 159 among 5,704 listed stocks. Bitmine also confirmed support from ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and Tom Lee as it works toward acquiring 5% of ETH supply. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
