Bitmine Immersion Technologies (NYSE AMERICAN: BMNR), a company focused on accumulating cryptocurrency for long-term investment, has announced its total crypto and cash holdings have reached $9.6 billion. As of February 16, 2026, the company's holdings include 4,371,497 Ethereum (ETH) tokens, valued at $1,998 each, representing 3.62% of the total ETH supply of 120.7 million tokens. This positions Bitmine as the world's largest Ethereum treasury and the second-largest global crypto treasury, behind only MicroStrategy's Bitcoin holdings.
The company's total portfolio comprises the 4.37 million ETH ($8.73 billion), 193 Bitcoin (BTC), a $200 million stake in Beast Industries, a $17 million stake in Eightco Holdings (NASDAQ: ORBS), and $670 million in cash. Bitmine has staked 3,040,483 of its ETH, representing $6.1 billion and generating annualized staking revenues of $176 million. At full scale, the company projects its staking rewards could reach $252 million annually.
Thomas "Tom" Lee, Chairman of Bitmine, stated the company remains committed to its "alchemy of 5%" philosophy, aiming to acquire 5% of the total ETH supply. "We continue to buy ETH even as crypto moves through this 'mini-winter,'" Lee said, revealing the company purchased 45,759 ETH in the past week alone. He cited strengthening fundamentals and three long-term growth drivers for Ethereum: Wall Street adoption via tokenization and privacy, AI and AI-agents using the network for payments and verification, and creators adopting 'proof of human' standards on Ethereum Layer 2 solutions like Worldchain.
Bitmine is supported by a premier group of institutional investors, including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital. The company's stock (BMNR) is the 158th most traded stock in the US, with an average daily trading volume of $0.9 billion.
The company is also progressing with its proprietary staking infrastructure, the Made in America VAlidator Network (MAVAN), which is on track for launch in Q1 2026. Bitmine is currently working with three staking providers ahead of MAVAN's unveiling.
