Bitmine ETH Holdings Climb to 4.423 Million Tokens
Bitmine Immersion Technologies (BMNR) has announced that its ETH holdings have reached 4,422,659 tokens, reinforcing its position as the world’s largest Ethereum treasury. As of February 22, 2026, at 6:00pm ET, the company reported total crypto, cash, and strategic investments valued at $9.6 billion.
At a price of $1,958 per ETH, Bitmine’s Ethereum holdings represent approximately 3.66% of the total 120.7 million ETH supply. In addition to ETH, the company holds 193 BTC, strengthening its diversified digital asset treasury strategy.
Breakdown of Bitmine’s $9.6 Billion Treasury
The company’s total assets include:
-
4,422,659 ETH valued at $1,958 per token
-
193 Bitcoin (BTC)
-
$200 million stake in Beast Industries
-
$17 million stake in Eightco Holdings
-
$691 million in total cash
Furthermore, Bitmine’s ETH holdings alone account for the majority of its treasury value. According to the company, this long-term accumulation strategy remains central during the current “mini crypto winter.”
Thomas “Tom” Lee, Chairman of Bitmine, emphasized that the firm continues to methodically execute its treasury strategy. He noted that despite short-term market volatility, the long-term fundamentals supporting Ethereum remain strong.
Staked ETH and Growing Staking Revenues
As of February 22, 2026, Bitmine has staked 3,040,483 ETH, valued at approximately $6.0 billion. This represents nearly 69% of the company’s total ETH holdings.
At scale, once all ETH is fully staked under its Made in America Validator Network (MAVAN) initiative, projected annual staking rewards could reach $249 million, based on a 2.89% seven-day annualized yield. Currently, annualized staking revenues stand at approximately $171 million.
The Composite Ethereum Staking Rate (CESR), administered by Quatrefoil, stands at 2.81%. Meanwhile, Bitmine’s internal staking operations generated a slightly higher 7-day yield of 2.89% (annualized). The company is working with three staking providers as it prepares to deploy MAVAN in early 2026.
Bitmine Ranks Among Top Global Crypto Treasuries
Bitmine now ranks as the #1 Ethereum treasury globally and the #2 overall crypto treasury. It trails only Strategy Inc. (NASDAQ: MSTR), which holds 717,131 BTC valued at approximately $49 billion.
Moreover, Bitmine has become one of the most actively traded stocks in the United States. According to Fundstrat data, the company’s five-day average daily dollar trading volume is $0.7 billion, placing it #165 among more than 5,700 US-listed stocks.
Ethereum Fundamentals Support Long-Term Strategy
Lee highlighted three major drivers supporting Ethereum’s long-term growth:
-
Wall Street’s push toward tokenization.
-
The rise of AI and agentic-AI leveraging smart blockchains.
-
Growth in the creator economy using blockchain for verification and payments.
In his view, ETH’s market price does not fully reflect its utility or its potential role in the future of finance.
Additionally, recent regulatory developments such as the GENIUS Act and the Securities and Exchange Commission’s Project Crypto could accelerate digital asset adoption. These initiatives, according to Bitmine, may prove transformational for financial markets, similar to the structural changes following the end of the Bretton Woods system in 1971.
Overall, Bitmine ETH holdings continue to expand as the company strengthens its treasury strategy, staking infrastructure, and long-term conviction in Ethereum.
Read Also: Bitmine Immersion Technologies Reports 4.4M ETH Holdings, $9.6B in Total Assets
