BitMine Shows No Stopping, Adds Over $90M in ETH to Stash

BitMine Immersion Technologies recently announced that it has acquired 45,759 ETH in the past week. The purchase, valued at around $90.83 million, has boosted the company’s total holdings to 4,371,497 ETH. This stake accounts for 3.62% of Ethereum’s circulating supply, which amounts to about 120.7 million tokens.

As contained in the press release, the company financed these acquisitions through an equity issuance and emphasized Ethereum’s long-term potential in areas such as tokenization, artificial intelligence applications, and the creator economy.

BitMine’s Accumulation Strategy

BitMine focuses on holding Ethereum as its main reserve asset. As of February 16, 2026, the company reported that it has staked 3,040,483 ETH, worth about $6.1 billion at an ETH price of $1,998. This staking earns the company $176 million each year at current rates.

The company anticipates that its annual revenue will rise to $252 million after the launch of its MAVAN staking solution in the first quarter of 2026 and its full integration with partners. In addition to Ethereum, BitMine holds 193 BTC, has $670 million in cash reserves, a $200 million investment in Beast Industries, and a smaller $17 million stake in Eightco Holdings.

BitMine’s assets, including crypto, cash, and strategic investments, total $9.6 billion, making it the leading public Ethereum treasury firm. The company avoids debt while striving to own 5% of the total ETH supply.

Ethereum’s Market Conditions

Ethereum, which currently trades in the low $2,000 range, has dropped significantly from its previous all-time highs. This decline has led to unrealized losses of around $8 billion for BitMine due to its higher average acquisition costs. Despite these losses, the company sees this dip as an opportunity to buy more Ethereum and remains confident in its long-term value.

A notable force bolstering BitMine’s bold approach is the continued interest from major investors, as shown by BlackRock increasing its stake in BitMine by 166%, now worth about $246 million. Additionally, other investors, such as Cathie Wood’s ARK Invest, have recently bought more shares.

Meanwhile, Ethereum’s staking participation has reached new records, showing the network’s strength. BitMine’s ongoing purchases indicate confidence among corporate investors, which could positively affect market sentiment during this weak period and highlight Ethereum’s importance in new decentralized applications.

The post BitMine Shows No Stopping, Adds Over $90M in ETH to Stash appeared first on CoinTab News.