Bitmine ETH Holdings Reach 4.4 Million Tokens
Bitmine Immersion Technologies has announced that its Bitmine ETH holdings have reached 4,422,659 ETH, contributing to total crypto, cash, and strategic investments valued at approximately $9.6 billion as of February 22, 2026.
The company holds 4,422,659 ETH valued at $1,958 per token, along with 193 BTC. In addition, Bitmine maintains $691 million in total cash and strategic equity stakes, including a $200 million investment in Beast Industries and a $17 million stake in Eightco Holdings. Collectively, these assets reinforce Bitmine’s position as a leading Ethereum-focused treasury company.
Notably, Bitmine ETH holdings represent approximately 3.66% of the total Ethereum supply of 120.7 million tokens. According to Chairman Thomas “Tom” Lee, the company continues to execute a disciplined treasury strategy, steadily accumulating ETH during what he described as a “mini crypto winter.”
Ethereum Staking Strategy Drives Yield Growth
Beyond accumulation, Bitmine actively stakes its Ethereum assets to optimize yield. As of February 22, 2026, total staked ETH stands at 3,040,483 tokens—valued at approximately $6.0 billion. This represents roughly 69% of Bitmine ETH holdings.
At scale, the company estimates potential annual staking rewards of $249 million, based on a 2.89% seven-day annualized yield. Currently, annualized staking revenues stand at $171 million. Bitmine’s yield slightly exceeds the Composite Ethereum Staking Rate (CESR) of 2.81%.
The company is also advancing its staking infrastructure initiative, the Made in America Validator Network (MAVAN). Once fully deployed in early 2026, MAVAN aims to provide secure, best-in-class staking services in partnership with multiple providers.
Position Among Global Crypto Treasuries
Bitmine ranks as the largest Ethereum treasury globally and the second-largest crypto treasury overall, behind Strategy Inc., which holds 717,131 BTC. This milestone further strengthens Bitmine’s leadership in Ethereum-focused capital allocation.
According to Fundstrat data, Bitmine is also among the most actively traded U.S. stocks, with a five-day average daily dollar trading volume of $0.7 billion as of February 20, 2026.
Long-Term Ethereum Investment Thesis
Bitmine’s management highlights three primary drivers supporting Ethereum’s long-term value: Wall Street tokenization initiatives, the growth of AI and agentic-AI leveraging smart blockchains, and the expanding creator economy seeking blockchain-based verification and payments.
As regulatory frameworks evolve, including initiatives such as the GENIUS Act and Project Crypto from the U.S. Securities and Exchange Commission, Bitmine believes the broader financial ecosystem may undergo a transformation similar to the post-1971 modernization of Wall Street.
Ultimately, Bitmine ETH holdings remain central to the company’s strategy, positioning it to benefit from increasing blockchain adoption and staking-driven revenue growth.
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