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BitMine bought 51,162 Ethereum in Feb 2026, raising its holdings to 4.42 million ETH, despite an 60% price drop and $8.8B in unrealized losses.
BitMine Immersion Technologies bought 51,162 Ethereum in early February 2026, boosting its holdings to 4.42 million ETH—3.66% of total supply—valued at $98 million.
The purchase, part of a long-term strategy, has led to nearly $8.8 billion in unrealized losses as ETH dropped 60% over six months.
Despite the decline, BitMine continues accumulating ETH at an average cost of $1,992, generating $171 million in annual staking revenue.
Major Wall Street firms increased their stakes in BitMine during Q4 2025, even as its stock fell 59%.
Meanwhile, institutional interest in Ethereum infrastructure grows, with Solana Company planning the "Pacific Backbone" network to serve traditional finance firms, launching in 12–18 months.
BitMine compró 51,162 Ethereum en febrero de 2026, elevando sus tenencias a 4,42 millones de ETH, a pesar de una caída de precios del 60% y $ 8.8B en pérdidas no realizadas.