Bitmine sets a world record for Ethereum reserves

During the period that Bitmine Chairman Tom Lee himself calls a “mini-crypto winter,” the company is not slowing down the pace of Ethereum accumulation. As of February 22, 2026, Bitmine Immersion Technologies’ holdings reached 4,422,659 ETH – a world record for institutional holders of Ether and a strong statement of long-term strategy.

The scale of the position in ETH: numbers and context

Bitmine’s portfolio includes 4.42 million ETH at a price of $1,958 per coin – which equates to approximately $8.6 billion in Ethereum alone. Taking into account 193 BTC, $200 million investments in Beast Industries, $17 million in Eightco Holdings and $691 million in cash, the company’s total portfolio was $9.6 billion.To understand the scale: Bitmine controls 3.66% of the entire issued ETH supply (120.7 million tokens) and is moving towards the target mark of 5% – a corporate program that the company calls “Alchemy of 5%”. Given the current dynamics, the goal has already been achieved by more than 73%.

ETH Staking as a Bitmine Business Model

The key element of Bitmine’s strategy is not just ownership, but the active use of ETH through the staking mechanism. At the moment, 3,040,483 ETH have been staked – about 69% of the entire package. The company’s own staking operations generate a seven-day yield of 2.89% per annum (versus the CESR market rate of 2.81%), which translates into annualized revenue of approximately $171 million.In the coming months, Bitmine plans to launch MAVAN (Made in America Validator Network) – its own staking infrastructure, positioned as a solution for optimizing profitability and security. After the full transfer of the package to MAVAN, the expected annual income from staking will be approximately $249 million.

Divergence: a large institution buys, and the co-founder sells

The contrast that market analysts pay attention to is noteworthy. While Bitmine is increasing its position at an unprecedented rate, Ethereum co-founder Vitalik Buterin has been consistently reducing his own ETH holdings during the same period. This gap in the actions of large holders reflects the heterogeneity of market sentiment regarding Ethereum’s medium-term prospects.The company’s investors include an impressive list of institutional names: ARK Invest Cathie Wood, Founders Fund, Pantera Capital, Kraken, DCG, Galaxy Digital. In recent months, BMNR shares have been among the top 170 most traded securities on all US exchanges with a daily turnover of about $700 million.

Why is this important for the ETH market

The Bitmine strategy essentially replicates for Ethereum the model that MicroStrategy (now Strategy) implemented for Bitcoin: a public company turns into an instrument for institutional access to an asset through the stock market. According to the company, Strategy has 717,131 BTC worth $49 billion – this is the benchmark that Bitmine is moving towards in its segment.The large-scale withdrawal of ether from the market in theory reduces the available supply, although a direct relationship with the price is not obvious under current market pressure.

News highlights

• Bitmine accumulated 4,422,659 ETH – a world record among institutional holders of Ethereum
• The company controls 3.66% of the total ETH supply; goal – 5%
• The total portfolio with cash and other assets is $9.6 billion
• 3.04 million ETH staked; annualized staking income – $171 million
• The launch of MAVAN’s own staking infrastructure is planned for early 2026

The information is for informational purposes only and under no circumstances constitutes individual investment advice. Asset values ​​are based on market prices on the date of publication and may change significantly.