Bitmine Expands Ethereum Plans With $8.7B Treasury, Moves Closer to 5% Supply Target

24. Feb 2026 Posted by Bailey S. on News

Bitmine Immersion Technologies has significantly increased its Ethereum exposure, amassing 4.42 million ETH as of February 22 and tightening its grip on the world’s second-largest cryptocurrency network. The latest accumulation gives the company control of roughly 3.66% of Ethereum’s total supply, underscoring its aggressive treasury strategy during a broader market slowdown.

With ether priced at $1,958 at the time of reporting, Bitmine’s ETH stash carries an estimated valuation of $8.7 billion. That makes the firm the largest corporate holder of ether globally and places it second among corporate crypto treasuries overall—behind only Strategy, which maintains a multibillion-dollar bitcoin position.

Steady Buying in a Cooling Market

Bitmine added 51,162 ETH over the past week alone, pushing it closer to its ambitious objective of acquiring 5% of Ethereum’s circulating supply. The company is now approximately 27% away from hitting that milestone.

Leadership framed the ongoing accumulation as a strategic move during what it described as a temporary downturn in crypto markets. The firm views current price levels as disconnected from Ethereum’s expanding real-world utility and long-term financial relevance.

Betting on Ethereum’s Core Growth Themes

According to company executives, three structural trends continue to reinforce Ethereum’s long-term value proposition:

  • Increased tokenization initiatives from traditional financial institutions

  • Artificial intelligence systems leveraging smart contracts for payments and execution

  • Blockchain-based identity and verification tools gaining traction within the creator economy

Despite these narratives, ether recently changed hands around $1,923—about 60% below its August 2025 all-time high of $4,946.

Staking Strategy Driving Yield

Of Bitmine’s 4.42 million ETH holdings, 3,040,483 ETH—approximately 68.7%—is currently staked. Based on a 2.89% seven-day staking yield, the company estimates its staking operations are generating roughly $171 million in annualized revenue.

The firm expects that figure to climb to as much as $249 million annually once its entire ETH position is staked. This expansion will be facilitated through its planned validator infrastructure platform, the Made in America Validator Network (MAVAN), which is slated for launch later this quarter. Bitmine is currently coordinating with three external staking providers ahead of the rollout.

Broader Balance Sheet

Beyond Ethereum, Bitmine disclosed additional holdings including 193 BTC, $691 million in cash, a $200 million stake in Beast Industries, and a $17 million position in Eightco Holdings. Altogether, the company’s combined crypto assets, liquidity, and strategic investments totaled $9.6 billion as of February 22.

Shares of Bitmine traded near $19.27 Monday morning, slipping more than 4% from Friday’s close. Even so, the stock has maintained robust liquidity, with average daily trading volume nearing $700 million over the five days ending February 20, placing it among the more actively traded U.S.-listed equities.

With its Ethereum treasury continuing to expand, Bitmine is positioning itself not just as a passive holder, but as an active participant in staking infrastructure and blockchain finance development.