One week after disclosing 4.285 million ETH holdings, Bitmine Immersion Technologies has added 40,613 ETH amid a price dip, reaching 4.326 million tokens (3.58% of supply) valued at $9.2 billion. Total crypto, cash, and other assets now stand at $10 billion, with staked ETH generating higher yields. Chairman Tom Lee sees the pullback as a buying opportunity.
Bitmine Immersion Technologies (NYSE AMERICAN: BMNR) announced on February 9, 2026, an update to its holdings as of February 8, totaling $10.0 billion. This includes 4,325,738 ETH at $2,125 per token—up 40,613 from last week's 4,285,125—alongside 193 Bitcoin, stakes in Beast Industries and Eightco Holdings, and $595 million in cash.
The purchase came during a downturn, with ETH falling from over $2,300 to $1,700 before recovering above $2,000. "Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals," said Executive Chairman Thomas "Tom" Lee. "In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance."
ETH is down 62% from 2025 highs, yet network activity hit records: 2.5 million daily transactions and 1 million active addresses in 2026. Lee highlighted this as the eighth 50%+ drop since 2018, often preceding recoveries, like 2025's surge from $1,600 to $5,000.
Staked ETH remains at 2,897,459 tokens ($6.2 billion), now yielding $202 million annualized (up 7% weekly) at a 3.3234% rate, versus the Composite Ethereum Staking Rate of 3.11%. Bitmine, the largest ETH treasury globally, trails only Strategy Inc. in scale and ranks among top U.S. stocks by volume. It faces $7.8 billion in unrealized ETH losses (average cost $3,826).
