LAS VEGAS — February 17, 2026
Executive Summary
Bitmine Immersion Technologies, Inc. (NYSE American: BMNR) announced that its total crypto, cash, and strategic investment holdings have reached approximately $9.6 billion as of February 16, 2026. The Company reported ownership of 4,371,497 ETH tokens, representing approximately 3.62% of the total circulating Ethereum supply of 120.7 million tokens. At an ETH reference price of $1,998 per token, Bitmine’s ETH holdings equate to approximately $8.7 billion in gross digital asset value, with 3,040,483 ETH currently staked. In addition to ETH holdings, the Company disclosed ownership of 193 Bitcoin, $670 million in cash, a $200 million stake in Beast Industries, and a $17 million stake in Eightco Holdings. The update forms part of Bitmine’s stated objective of acquiring 5% of total Ethereum supply under its “Alchemy of 5%” treasury strategy.
Announcement Overview
Bitmine reported that as of February 16, 2026 at 5:00pm ET, its consolidated crypto holdings, total cash reserves, and strategic minority investments totaled approximately $9.6 billion. The Company disclosed that its ETH position now stands at 4,371,497 tokens, with 3,040,483 ETH currently staked across internal and partner-operated validator infrastructure. The Company stated that this represents approximately 72% progress toward its long-term objective of acquiring 5% of the total ETH supply.
At the disclosed ETH reference price of $1,998 per token, the Company’s staked ETH position equates to approximately $6.1 billion in staked asset value. Bitmine further reported annualized staking revenues of approximately $176 million, based on current yields, and indicated that full staking deployment through its forthcoming validator network could generate approximately $252 million in annual staking rewards under current yield assumptions.
The Company also confirmed ownership of 193 Bitcoin and disclosed total cash reserves of $670 million. Strategic investments include a recently closed $200 million position in Beast Industries and a $17 million stake in Eightco Holdings (NASDAQ: ORBS), categorized by the Company as “moonshots.” According to Bitmine, these components collectively support its digital asset treasury model and long-term balance sheet strategy.
Key Announcement Details
- Announcement Classification: Public treasury update and consolidated asset disclosure
- Issuer Legal Name: Bitmine Immersion Technologies, Inc.
- Stock Exchange: NYSE American
- Ticker Symbol: BMNR
- Announcement Date: February 17, 2026
- Holdings Measurement Timestamp: February 16, 2026 at 5:00 p.m. Eastern Time
- Total Crypto + Cash + Strategic Holdings: $9.6 billion
- Total Ethereum (ETH) Holdings: 4,371,497 ETH
- Ethereum Reference Price for Valuation: $1,998 per ETH
- Implied Gross ETH Market Value at Reference Price: Approximately $8.74 billion
- Total Circulating Ethereum Supply Referenced: 120.7 million ETH
- Percentage of Total ETH Supply Owned: 3.62%
- Stated Long-Term Ownership Objective: 5% of total ETH supply
- Internal Strategic Ownership Framework Name: “Alchemy of 5%”
- Total ETH Staked: 3,040,483 ETH
- Percentage of ETH Holdings Staked: Approximately 69.5%
- Gross USD Value of Staked ETH at Reference Price: Approximately $6.07 billion
- Reported 7-Day Staking Yield (Annualized): 2.89%
- Referenced Composite Ethereum Staking Rate (CESR): 2.84%
- Current Annualized Staking Revenue: Approximately $176 million
- Projected Annualized Staking Revenue at Full Staking Scale: Approximately $252 million
- Unstaked ETH Holdings: Approximately 1,331,014 ETH
- Recent ETH Acquired (Prior Week): 45,759 ETH
- Bitcoin Holdings: 193 BTC
- Strategic Investment – Beast Industries: $200 million equity position
- Strategic Investment – Eightco Holdings (NASDAQ: ORBS): $17 million equity position
- Total Strategic Equity “Moonshots” Exposure: $217 million
- Total Cash Holdings: $670 million
- Aggregate Digital Asset Focus: Ethereum as primary treasury reserve asset
- Secondary Digital Asset Exposure: Bitcoin (BTC)
- Proprietary Staking Infrastructure Initiative: MAVAN (Made in America VAlidator Network)
- MAVAN Planned Deployment Window: Q1 2026
- Current Number of External Staking Providers Engaged: Three
- Primary Revenue Mechanism: Ethereum staking rewards
- Stated Market Position: Largest Ethereum treasury company globally
- Global Crypto Treasury Rank (by digital asset holdings): Second largest public crypto treasury entity
- Largest Public Crypto Treasury Peer Referenced: Strategy Inc. (NASDAQ: MSTR)
- Strategy Inc. BTC Holdings (Referenced for Comparison): 714,644 BTC
- Strategy Inc. Approximate BTC Value (Referenced): $49 billion
- 5-Day Average Daily Dollar Trading Volume (as of Feb 13, 2026): $0.9 billion
- US Equity Liquidity Rank: 158th among approximately 5,704 US-listed equities
- Data Source for Trading Rank: Fundstrat research and Statista dataset
- Chairman Quoted in Announcement: Thomas “Tom” Lee
- Regulatory Context Referenced: GENIUS Act and SEC Project Crypto
- Forward-Looking Risk Disclosure Included: Yes
Ethereum Accumulation Strategy and Treasury Philosophy
Bitmine described its accumulation of ETH as central to its corporate treasury philosophy. The Company reiterated its commitment to Ethereum as its primary reserve asset and emphasized that acquisitions continue irrespective of short-term price volatility. Chairman Thomas “Tom” Lee referenced recent market conditions and stated that the Company views pullbacks in ETH pricing as opportunities to strengthen its long-term position.
According to the Company, the long-term rationale for Ethereum accumulation is anchored in three secular growth drivers: institutional tokenization and privacy solutions built on Ethereum infrastructure, artificial intelligence systems utilizing Ethereum for payments and verification, and creator-driven adoption of “proof of human” frameworks and Layer-2 scaling networks.
Bitmine stated that its ETH purchases over the past week totaled 45,759 ETH, reinforcing the Company’s continued accumulation approach. The Company indicated that it does not attempt to time short-term price movements but instead focuses on scaling its treasury position in line with its 5% objective.
Staking Operations and MAVAN Deployment
Bitmine reported that 3,040,483 ETH are currently staked across its validator infrastructure and staking partners. Based on current yield assumptions, the Company indicated annualized staking revenues of $176 million, derived from a 7-day yield of 2.89%. The Composite Ethereum Staking Rate (CESR), administered by Quatrefoil, currently stands at 2.84%.
The Company confirmed that it is advancing development of its proprietary staking solution known as the Made in America VAlidator Network (MAVAN), expected to launch in the first quarter of calendar year 2026. Bitmine stated that MAVAN will provide secure validator infrastructure optimized for institutional-scale staking operations and will consolidate staking activities currently managed across multiple providers.
According to the Company, full deployment of MAVAN and partner validators would increase staked ETH coverage toward 100% of total holdings, potentially raising annualized staking rewards to approximately $252 million under prevailing rate assumptions. The Company emphasized that staking revenues represent a protocol-level yield derived directly from Ethereum’s consensus mechanism rather than from third-party lending arrangements.
Market Position Within Public Crypto Treasuries
Bitmine stated that it is currently the largest publicly disclosed Ethereum treasury and ranks second globally among public crypto treasuries by digital asset holdings, behind Strategy Inc. (NASDAQ: MSTR), which reportedly owns 714,644 Bitcoin valued at approximately $49 billion.
The Company described its treasury model as distinct in its singular emphasis on Ethereum rather than Bitcoin-centric reserve strategies. Bitmine emphasized that its accumulation pace and trading liquidity differentiate it among crypto-focused public equities.
According to data cited by the Company from Fundstrat, BMNR stock ranks as the 158th most traded equity in the United States based on five-day average dollar volume of approximately $0.9 billion per day. The Company stated that this level of liquidity positions BMNR between KKR (ranked 157th) and CBRE (ranked 159th) among 5,704 US-listed stocks.
Institutional Support and Capital Formation
Bitmine reported support from a group of institutional investors and industry participants aligned with its ETH acquisition strategy. According to the Company, this investor base includes ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and personal investor Thomas “Tom” Lee.
The Company did not disclose the size of individual investor stakes but indicated that the investor consortium supports its long-term objective of acquiring 5% of total Ethereum supply. Bitmine described the breadth of institutional engagement as reinforcing its strategy of positioning ETH as a treasury-grade reserve asset for public markets.
Regulatory Context and Structural Shifts in Financial Infrastructure
The Company referenced ongoing regulatory developments including the GENIUS Act and the Securities and Exchange Commission’s Project Crypto initiative. Bitmine characterized these developments as structurally significant for digital asset markets and compared their potential impact on financial services to the United States’ decision on August 15, 1971 to end the Bretton Woods gold standard.
Bitmine stated that regulatory modernization and formal recognition of digital assets could accelerate institutional participation and reinforce Ethereum’s role in tokenization and settlement infrastructure. The Company did not provide forecasts but reiterated its view that Ethereum is positioned to capture increasing share of decentralized and institutional financial activity.
Chairman Commentary and Forward Outlook
Chairman Thomas Lee stated that recent global industry discussions at Consensus Hong Kong reinforced his view that 2026 may represent a defining year for Ethereum adoption. Lee referenced institutional tokenization, AI-enabled verification systems, and creator-based blockchain applications as long-term structural drivers of Ethereum network usage.
Lee further stated that while investor sentiment remains subdued relative to prior crypto cycles, Bitmine’s strategy focuses on long-term accumulation rather than short-term market dynamics. The Company indicated that it will continue purchasing ETH regardless of price fluctuations in pursuit of its 5% supply objective.
Forward-Looking Statements
This announcement contains forward-looking statements relating to Bitmine’s objectives, staking deployment, projected revenues, ETH acquisition goals, and regulatory developments. Forward-looking statements are subject to risks and uncertainties including changes in digital asset prices, staking yields, regulatory actions, capital markets conditions, and operational execution. Actual results may differ materially from those expressed or implied. Readers are encouraged to review risk disclosures contained in the Company’s Form 10-K filed with the Securities and Exchange Commission on November 21, 2025 and subsequent filings available at www.sec.gov. The Company undertakes no obligation to update forward-looking statements except as required by law.
About Bitmine Immersion Technologies, Inc.
Bitmine Immersion Technologies, Inc. is a publicly traded digital asset treasury company listed on the NYSE American under the ticker BMNR. The Company focuses on accumulation and management of Ethereum as its primary treasury reserve asset, supplemented by selective Bitcoin holdings and strategic minority investments.
Bitmine operates a protocol-level staking model designed to generate yield directly from Ethereum’s proof-of-stake consensus mechanism. As of February 16, 2026, the Company holds 4,371,497 ETH tokens, representing approximately 3.62% of the total circulating Ethereum supply of 120.7 million tokens. Bitmine has staked 3,040,483 ETH and reports annualized staking revenues of approximately $176 million based on prevailing rates.
In addition to digital asset holdings, Bitmine maintains $670 million in cash reserves and strategic investments totaling $217 million, including $200 million in Beast Industries and $17 million in Eightco Holdings. Combined crypto, cash, and strategic holdings total approximately $9.6 billion.
The Company’s long-term objective is to acquire 5% of the total Ethereum supply under its “Alchemy of 5%” treasury framework. Bitmine is developing the Made in America VAlidator Network (MAVAN), scheduled for launch in Q1 2026, to consolidate validator operations and enhance institutional staking infrastructure.
Bitmine’s shares trade on the NYSE American exchange and rank among the top 200 most actively traded equities in the United States by dollar volume, averaging approximately $0.9 billion per day over recent five-day periods.
Media Contact
For additional information, visit bitminetech.io.
Source Attribution
Source: Company announcement