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flag 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.

flag 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. flag 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. flag Despite the decline, BitMine continues accumulating ETH at an average cost of $1,992, generating $171 million in annual staking revenue. flag Major Wall Street firms increased their stakes in BitMine during Q4 2025, even as its stock fell 59%. flag 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.

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