Bitmine Immersion Technologies, Inc. announced that its total crypto assets, including cash reserves and "moonshot" investments, have reached a size of $9.6 billion. The company's balance sheet includes 4.37 million Ethereum (ETH), 193 Bitcoin (BTC), $670 million in cash, and various strategic investments. As of February 17, 2026, the 4,371,497 ETH held by the company is calculated at a unit price of $1.998, and the total value of these assets corresponds to approximately $8.7 billion. The amount of ETH held by Bitmine corresponds to 3.62% of the total circulating supply. The company has completed 72% of its strategic goal, which it calls "the alchemy of 5%," in just 7 months.
Over 3 million ETH staked
Bitmine's total staked ETH has reached 3,040,483. This figure represents a value of approximately $6.1 billion at the current price. According to company management, the annualized staking revenue from these staked assets is at the level of $176 million. The company's 7-day annualized return rate on staking operations was announced as 2.89%. The CESR (Composite Ethereum Staking Rate), which is considered a benchmark in the market, is at 2.84%. Bitmine aims to expand its staking activities through the Made in America Validator Network (MAVAN) infrastructure, which it plans to launch in the first quarter of 2026. Chairman Thomas "Tom" Lee stated that the company is currently working with three different staking providers and that a "best-in-class" staking infrastructure will be created with the launch of MAVAN.
"2026 will be a decisive year for Ethereum"
In his assessment after the Consensus event held in Hong Kong, Tom Lee stated that 2026 could be a turning point for Ethereum. According to Lee, three main long-term themes are strengthening Ethereum's use case.
The first is Wall Street's shift towards Ethereum through tokenization and privacy solutions. The second is the use of Ethereum as a payment and verification infrastructure by artificial intelligence and autonomous agents. The third is content creators' preference for Ethereum Layer-2 solutions by adopting standards such as "proof of human."
Lee stated that current investor sentiment is quite weak, reminiscent of the 2018 crypto winter and the 2022 lows. However, he emphasized that there will be no large-scale crashes similar to FTX in the 2025-2026 period. According to the company, the current weakness stems from a "mini-winter" period following the price shock on October 10th and the liquidation of leveraged positions.
45,759 ETH Purchase in the Last Week
Bitmine announced that it purchased 45,759 ETH in just the last week. The company states that it is maintaining its long-term Ethereum strategy regardless of the price trend and considers pullbacks as opportunities. The company's total asset composition also includes a $200 million investment in Beast Industries and $17 million in Eightco Holdings shares. These items are described as "moonshot" investments.
Bitmine ranks first in the world in terms of Ethereum treasury and second among global crypto treasury companies. First place is held by Strategy Inc., which has approximately $49 billion in Bitcoin assets with 714,644 BTC.
The company also stands out among the highest-volume shares on US exchanges. BMNR shares are the 158th most traded stock in the US with an average daily trading volume of $0.9 billion over the last five days.
Strong support continues on the institutional side. Prominent names such as Cathie Wood, founder of ARK Invest, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital are among the company's investors.
At the time of writing, the ETH price is trading at $1,992.42.
