Illustration depicting Bitmine's Tom Lee highlighting surging Ethereum holdings during crypto market downturn.
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Bitmine expands Ethereum holdings to 4.3 million tokens amid downturn

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Bitmine Immersion Technologies announced on February 2, 2026, that its Ethereum holdings have reached 4.285 million tokens, representing 3.55% of the total supply, as the cryptocurrency market faces a sharp decline. The company reported total crypto, cash, and investment holdings of $10.7 billion, including staked Ethereum generating significant annual rewards. Executive Chairman Tom Lee described the current price pullback as an attractive buying opportunity despite $6.6 billion in paper losses.

Arizona Attorney General Kris Mayes has warned residents about a rise in cryptocurrency ATM scams, which cost victims more than $170 million last year. She launched a new fraud complaint form to help those affected report incidents quickly. The scams typically involve fraudsters directing people to deposit cash into bitcoin kiosks found at everyday locations like gas stations.

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A new report from JPMorgan Private Bank reveals that 89% of surveyed family offices hold no cryptocurrency assets, even amid geopolitical uncertainties. While interest in digital assets remains low, 17% of these wealthy families plan future investments. The findings highlight a cautious approach to volatile hedges like crypto compared to more favored areas such as AI.

Bitcoin fell to a nine-month low below $80,000 on January 31, 2026, triggering over $2.5 billion in liquidations across crypto markets. Analysts attribute the crash to liquidity issues and extreme leverage rather than geopolitical tensions or Federal Reserve actions. The downturn erased $111 billion from the total crypto market value in 24 hours.

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Following its central bank's late 2025 proposal on retail investor limits and digital ruble rollout, Russia plans to implement cryptocurrency regulations in 2027, capping retail investments at $4,000 annually. This reflects growing regulatory diversity across Asia.

Six Democratic senators have accused Deputy Attorney General Todd Blanche of a glaring conflict of interest in shutting down cryptocurrency enforcement efforts. A ProPublica investigation revealed that Blanche held at least $159,000 in crypto-related assets when he issued the order. The senators demand details on how his actions were cleared ethically.

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A severe winter storm in the United States has caused Bitcoin's network hashrate to fall by about 12% since November 11, the largest drop since 2021. Major mining operations curtailed activities to protect infrastructure and meet grid demands, leading to sharp declines in production and revenue. This disruption marks one of the toughest periods for miners in years, amid falling Bitcoin prices.

 

 

 

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