Publicly listed BitMine Immersion Technologies has taken a contrarian stance, buying over 40,000 ETH during the recent price decline. According to its latest filing, the company added 40,613 ETH in a single week, bringing total assets (crypto, cash, and "Moonshots" investments) to $10 billion as of February 8, 2026.
ETH Hoard Tops 4.3 Million; Staking Yields $374 Million Annually
BitMine now holds approximately 4.326 million ETH, valued at roughly $9.2 billion based on a $2,125 per-ETH price. This represents about 3.58% of Ethereum's circulating supply, making BitMine the largest corporate treasury of ETH globally. The firm also holds 193 BTC, a $200 million strategic investment in Beast Industries, and equity in Eightco Holdings, with cash reserves of $595 million.
In addition to spot holdings, BitMine has staked roughly 2.897 million ETH, worth $6.2 billion — the largest single staked position by any entity. At the current Composite Ethereum Staking Rate (CESR) of about 3.11%, annual staking income reaches $374 million, or over $1 million per day. The company's self-staked annualized yield over the past 7 days was 3.32%.
Tom Lee: Every 50%+ Drop Since 2018 Has Been Followed by a V-Shaped Rebound
Addressing price concerns, Chairman Tom Lee pointed to historical patterns: Since 2018, ETH has suffered eight declines of over 50% from highs, each ending with a sharp V-shaped recovery. He recalled that after dropping 64% in early 2025, ETH rebounded to $5,000. Lee believes the best entry points come after panic corrections.
He also highlighted that Ethereum's daily transaction count and active addresses hit all-time highs in 2026, signaling growing real-world demand. “The current price does not yet reflect Ethereum’s utility as future financial infrastructure,” Lee stated.