Bitmine Acquires Massive Ethereum Stake, Now Holds 3.58% of Total Supply

Highlights:

• Bitmine now holds about 3.58% of the total Ethereum supply, worth nearly $10 billion.
• The firm stakes over 2.87 million ETH, which generates about $374 million in annual rewards.
• Tom Lee predicts a strong Ethereum rebound in 2026 after the current 62% drop from highs.

Bitmine Immersion Technologies is back in the news for buying more Ethereum. On Monday, the company bought another 4.3 million ETH. At a price of $2,125 per coin, the purchase was worth about $8.7 billion. At the same time, Bitmine added 40,613 ETH over the past week. However, the firm did not share the average buying price. As a result, Bitmine now holds nearly $10 billion worth of Ethereum. This equals about 3.58% of the total ETH supply of 120.7 million coins.

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BitMine provided its latest holdings update for February 9th, 2026:

$10.7 billion in total crypto + "moonshots":
– 4,325,738 ETH at $2,125 (@coinbase)
– 193 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $19 million stake in Eightco Holdings (NASDAQ:… pic.twitter.com/MR6hWu8lio

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) February 9, 2026

Ethereum’s price has been unstable in recent days. The token recently moved back above $2,000 and traded near $2,055 on Friday. However, it is down more than 3.53% in the last 24 hours and almost 13.5% over the past week.

Meanwhile, Tom Lee, Executive Chairman of Bitmine, said ETH is still far below its peak. He noted that prices have dropped over 62% from the 2025 highs. He added that such falls are common, as Ethereum has seen drops of 50% or more eight times since 2018.

According to Lee, Ethereum usually recovers fast after major declines. For example, ETH fell 64% between January and March last year. Later, it jumped from $1,600 to $5,000 within a few months. Because of this, he expects a similar rebound in 2026.

He also said the best chances in crypto often appear after sharp drops. As a result, Bitmine has kept buying Ethereum. The firm sees the current pullback as attractive, especially as fundamentals keep improving. Lee believes ETH’s price does not yet reflect its strong use cases or its future role in finance.

Company Expands Ethereum Staking Strategy

Bitmine is not just holding Ethereum. Instead, the company is actively staking its claim. So far, Bitmine has staked more than 2.9 million ETH. At $2,125 per coin, this is worth about $6.2 billion. This means nearly 67% of its total ETH holdings are now staked.

Because of this, Bitmine earns strong rewards. Its staking income totals about $374 million per year. That equals more than $1 million per day once all ETH is fully staked through its MAVAN network and partners. Meanwhile, Lee said annual staking revenue jumped over 7% in the past week to $202 million. The Composite Ethereum Staking Rate is 3.11%. However, Bitmine’s own staking returned a higher 3.3234% over the last seven days.

At the same time, Bitmine is improving its staking setup. Lee confirmed the firm is expanding its Made in America Validator Network, known as MAVAN. He called it a secure and high-quality system. Currently, Bitmine works with three staking providers. The company plans to fully roll out MAVAN in 2026. Overall, this move shows Bitmine’s goal to become a global leader in Ethereum staking.

Bitmine Leads Ethereum Treasuries as Network Activity Grows

Bitmine’s heavy buying has made it the largest Ethereum treasury in the world. It is also the second-largest digital asset treasury overall. Only Strategy is ahead, holding 713,502 Bitcoin worth about $51 billion. At the same time, Bitmine holds 193 Bitcoin on its balance sheet. It also has $595 million in cash. In addition, the firm invested $200 million in Beast Industries and $19 million in Eightco Holdings.

Meanwhile, on-chain data support Bitmine’s positive view. Ethereum daily transactions recently reached a record 2.5 million. Active addresses also rose to 1 million per day. These numbers show Ethereum’s growing use, even while prices remain weak. Because of this, Lee said the strong fundamentals support Bitmine’s continued buying, despite ongoing market swings.

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