Tom Lee’s Bitmine Boosts ETH Holdings to $8.7B

Bitmine Immersion Technologies has aggressively increased its Ethereum holdings despite ongoing crypto market turmoil.

Key Takeaways

• Bitmine added 40,613 ETH last week, pushing its total holdings to 4.326 million ETH, valued at $8.7 billion.
• The company now controls 3.58% of Ethereum’s circulating supply, closing in on its goal of owning 5%.
• Despite sitting on $7.8 billion in unrealized ETH losses, Bitmine continues to stake its tokens, earning $202 million annually in rewards.
• Bitmine’s total crypto, cash, and moonshot investments now top $10 billion, with a focus on long-term Ethereum strategy.

What Happened?

Bitmine Immersion Technologies, led by chairman Tom Lee, significantly expanded its Ethereum portfolio, acquiring over 40,000 ETH during a sharp market dip. Despite Ethereum’s recent 62% price drop from 2025 highs, the company now holds 4.326 million ETH, positioning itself as the largest ETH treasury in the world.

Bitmine Doubles Down on Ethereum Strategy

Bitmine’s bold accumulation strategy has raised eyebrows in the crypto space. On February 7, blockchain intelligence firm Lookonchain reported that Bitmine purchased 20,000 ETH for $41.98 million. That was only part of a larger weekly acquisition totaling 40,613 ETH, as confirmed by multiple disclosures.

• Current ETH holdings: 4.326 million tokens.
• Percentage of total ETH supply: 3.58% of 120.7 million ETH.
• ETH market value: Approximately $8.7 billion.
• Average ETH purchase price: $3,826 (resulting in $7.8 billion unrealized loss).

Despite heavy paper losses, Bitmine remains committed to its long-term ETH vision. Chairman Tom Lee stated, “Ethereum is the future of finance,” reaffirming confidence in the token’s utility and growth potential.

Massive Staking Operations Power Long-Term Returns

Bitmine isn’t just holding ETH. The company has staked 2.9 million ETH, or about 67% of its total holdings, generating an annual yield of $202 million. These staked assets are expected to produce even higher returns once its MAVAN (Made in America Validator Network) staking platform launches in Q1 2026.

• Staked ETH: 2.9 million (worth $6.2 billion at $2,125).
• Annual staking yield: $202 million, potentially rising to $374 million.
• Staking yield rate: 3.11% CESR, 3.32% 7-day Bitmine average.

MAVAN is being developed with three staking providers and is expected to set a “best-in-class” standard for ETH staking infrastructure in the US.

Beyond Buy-and-Hold: Bitmine’s Broader Crypto Portfolio

Bitmine is transforming into more than just a treasury play. The company is investing in what it calls “moonshot” ventures, including:

• $200 million investment in Beast Industries.
• $19 million stake in Eightco Holdings (NASDAQ: ORBS).
• Other crypto holdings alongside ETH.
• Total cash reserves: $595 million.

Altogether, Bitmine’s crypto, cash, and moonshots now total $10 billion, reflecting its evolution into a diversified crypto investment entity.

Resilience Amid Market Turbulence

While Ethereum prices recently plunged to $1,700, Lee emphasized that this is ETH’s eighth 50%+ drawdown since 2018, each followed by a V-shaped recovery. He cited 2025’s rebound from $1,600 to $5,000 as a reminder of crypto’s volatility and opportunity.

Despite BMNR stock being down 34% year-to-date, Bitmine ranks as the 107th most traded stock in the US, with an average daily volume of $1.3 billion, ahead of many major tech firms.

Bitmine also enjoys strong backing from major institutions including Cathie Wood’s ARK, Founders Fund, Galaxy Digital, Pantera, and Kraken, as well as personal investment from Tom Lee himself.

CoinLaw’s Takeaway

In my experience, this kind of bold accumulation in the middle of a bear market signals long-term conviction that goes beyond short-term headlines. Bitmine is playing the long game, and despite sitting on billions in losses, the company is doubling down with a well-rounded ETH strategy, including staking, infrastructure, and moonshots. I found the MAVAN project particularly interesting. If it delivers, Bitmine won’t just be a holder but a key infrastructure provider in Ethereum’s future. They aren’t just betting on ETH, they’re building around it.

The post Tom Lee’s Bitmine Boosts ETH Holdings to $8.7B appeared first on CoinLaw.