TLDR
- Bitmine now holds 4.42M ETH, equal to 3.66% of the circulating supply.
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Total crypto, cash and moonshot assets reach $9.6B as of Feb. 22.
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Staked ETH totals 3.04M, generating $171M annualized revenue.
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Bitmine acquired 51,162 ETH in the past week during market weakness.
Bitmine Immersion Technologies has reported that its combined crypto, cash and moonshot holdings reached $9.6 billion as of February 22. The company continues to increase exposure to Ethereum and now controls 4.42 million ETH. This is equal to 3.66% of the circulating supply. The accumulation moves the firm more than 73% of the way toward its public goal of reaching a 5% share of the asset.
The company has gathered its holdings during a period it described as a “mini crypto winter.” Chairman Thomas Lee said the firm remains focused on methodical purchases and on staking operations that produce ongoing yield. Bitmine aims to build long-term treasury value through accumulation rather than trading.
ETH Holdings Rise as Staking Operations Expand
Bitmine stated that 3.04 million ETH is now staked. At current prices, the staked amount is valued at $6.0 billion. Lee said the firm earns annualized staking revenues of $171 million. He said that at full scale, the 7-day yield observed on Bitmine’s own staking systems would reflect $249 million in annual rewards.
Bitmine reported that it generated a 2.89% annualized yield over the past week. This figure remains above the Composite Ethereum Staking Rate of 2.81%. The company is working with three staking partners as it prepares to deploy its MAVAN infrastructure. MAVAN is scheduled for release during early 2026. Lee described it as a secure validator network built for large-scale participation.
Bitmine said that 51,162 ETH was purchased during the past week. The company views recent price weakness as an opportunity to expand its position. It said that the current structure of the Ethereum ecosystem continues to gain support across tokenization, AI-driven activity, and verification use cases.
Treasury Composition Reaches $9.6 Billion Across Assets
The company reported that its asset base includes 4,422,659 ETH, 193 BTC, a $200 million stake in Beast Industries, a $17 million stake in Eightco Holdings, and $691 million in cash. Bitmine said its ETH position is the largest of any entity in the world. It also noted that its total assets place it second among all crypto treasuries, behind Strategy Inc., which holds 717,131 BTC.
Bitmine said it aims to grow net asset value per share while maintaining liquidity for investors. The firm is among the most actively traded U.S. stocks. According to Fundstrat data, Bitmine averages $0.7 billion in daily trading volume. This places the company 165th among 5,704 U.S.-listed stocks.
Bitmine said the trading volume shows consistent market interest in its long-term strategy and treasury structure. It added that institutional investors continue to support the company. These include ARK Invest’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Tom Lee.
ETH Market Structure Shows Pressure as Price Trend Softens
Bitmine’s update comes during a broader downward trend in Ethereum. Market data shows that ETH posted a 31% relief rally in the prior quarter before falling sharply within a long-term descending channel. The present move shows a similar pattern. Analysts said the formation could continue if ETH respects previous support levels.
Chart data shows lower highs and compressed consolidation across recent sessions. The trend has moved ETH toward the lower boundary of its channel. Analysts said that if the structure continues, price could remain under pressure.
Source: X
Subsequently, the company said it will keep building its ETH position as long as market conditions align with its internal targets. It will also continue to expand staking capacity through MAVAN and its partner networks.
