BitMine (BMNR) Says ETH Holdings Hit 4.326M Tokens, Total Crypto + Cash Reaches $10.0B

LAS VEGAS — Feb. 9, 2026 — BitMine Immersion Technologies, Inc. (NYSE American: BMNR) released a treasury update claiming its crypto holdings plus total cash plus selected “moonshots” investments now total $10.0 billion, driven primarily by a rapidly expanding Ethereum position.

The company said its ETH holdings have reached 4.326 million tokens, describing the balance as roughly 3.58% of total ETH supply (based on a stated supply figure of 120.7 million ETH). The update uses an ETH reference price of $2,125.

What BitMine says it holds right now

In its snapshot as of Feb. 8, 2026 at 3:00 p.m. ET, BitMine reported holdings comprised of:

• 4,325,738 ETH (valued using $2,125 per ETH)
• 193 Bitcoin
• $595 million in total cash
• A $200 million stake in Beast Industries
• A $19 million stake in Eightco Holdings (described as part of its “moonshots”)

BitMine also said it recently closed its initial $200 million investment into Beast Industries.

Staking: nearly 2.9 million ETH deployed, MAVAN rollout planned for early 2026

BitMine positioned staking as a core part of its ETH treasury strategy. As of Feb. 8, 2026, the company reported total staked ETH of 2,897,459, which it valued at $6.2 billion using the same $2,125 reference price.

The release also highlights a staking push tied to a planned rollout of its Made in America VAlidator Network (MAVAN) initiative, which the company says is on track to be deployed in early calendar 2026 (described elsewhere in the release as Q1 2026). BitMine said it is currently working with three staking providers as it moves toward unveiling the platform.

On rates, BitMine referenced a Composite Ethereum Staking Rate (CESR) of ~3.11%, and claimed its own staking operations produced a 7-day yield of 3.3234% annualized. It also stated that “annualized staking revenues” are now $202 million, up 7% over the past week (as characterized in the release).

The bigger ambition: from 3.58% to a 5% ETH target

BitMine framed the current position as “over 72% of the way” toward what it calls the “Alchemy of 5%”—a stated goal of accumulating 5% of ETH. The company also said it acquired 40,613 ETH in the past week.

Executive Chairman Thomas “Tom” Lee used the announcement to argue that ETH has historically rebounded sharply after major drawdowns, while BitMine characterized the current market as an attractive accumulation window given what it described as strengthening network fundamentals.

Liquidity and investor support claims

BitMine also used the release to emphasize the trading activity in its stock, claiming BMNR is among the more actively traded U.S. names by average daily dollar volume, and listing a roster of institutional and strategic investors it says support its stated ETH accumulation objective.

Industry takeaway: why this matters for crypto (specifically ETH treasuries + staking)

This is another sign that ETH is being treated like a strategic, yield-bearing treasury asset, not just a speculative exposure.

If BitMine’s model continues to scale, it matters for the sector in a few ways:

• ETH “treasury companies” become a new market category. Just like BTC treasury strategies reshaped how public markets price crypto exposure, large-scale ETH treasuries could create a parallel playbook focused on both price and protocol-native yield.
• Staking infrastructure becomes a balance-sheet function. Holding millions of ETH is one thing; operating and securing staking at that scale is an institutional-grade operational challenge—custody, validator performance, liquidity planning, and slashing risk management all move to the center.
• Transparency pressure increases. As more public companies pitch staking yield and validator roadmaps to investors, expectations rise for standardized disclosure on staking rates, uptime, custody controls, and risk governance.

Bottom line: BitMine isn’t just buying ETH—it’s selling a thesis that Ethereum participation (holding + staking) can be a corporate strategy. Whether that thesis holds will depend less on slogans and more on execution: how safely it stakes, how liquid it stays, and how clearly it reports the moving parts.

Source: BitMain’s official press release