Bitmine Hits New Ethereum Milestone Holdings at $8.68 Billion

Cover image via commons.wikimedia.org Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Bitmine Immersion Technologies Inc., the crypto treasury firm linked to Tom Lee of Fundstrat, has bought the Ethereum (ETH) dip. According to new insights from Lookonchain, the firm has topped its Ethereum holdings with 45,759 ETH, a sign of its sustained support for the coin. Advertisement Bitmine betting on imminent price rebound As showcased by the ETH purchase worth a total of $90.83 million, Bitmine has now increased its total holdings to 4,371,497 ETH, valued at $8.68 billion. Tom Lee( @fundstrat )'s #Bitmine bought another 45,759 $ETH ($90.83M) last week and now holds 4,371,497 $ETH ($8.68B). The average cost is ~$3,821. At current prices, this position is down over $8.03B. https://t.co/1ut52yzsmO?from=article-links pic.twitter.com/gDnehedwyb — Lookonchain (@lookonchain) February 17, 2026 Bitcoin has spent the better part of the past month advocating for Ethereum. Within the past year, it has grown its holdings, becoming the largest HODLer of Ethereum, ahead of SharpLink Gaming. Bitmine's bets on Ethereum are currently questionable, as the average cost is $3,821. At the current price of $1,960, this position is down over $8.03 billion. Despite this massive drawdown, Chairman Tom Lee has reiterated that Bitmine has a long-term disposition to the market and does not focus on momentary price shifts. Pending when the firm sees a return on its holdings, it has staked its Ethereum holdings, compounding returns to its shareholders. Bitmine and investment diversification Beyond its role as the biggest Ethereum treasury firm, Bitmine is also diversifying its stake into other ventures. The company has invested in MrBeast Industries , injecting up to $200 million into the YouTuber’s business interests. You Might Also Like Tue, 02/17/2026 - 15:27 Bitcoin Whale Transaction Crashes 72% Amid Market Drop By Tomiwabold Olajide Bitmine started as a Bitcoin mining firm, but the undervalued nature of Ethereum soon attracted the firm. Tom Lee once predicted the Ethereum price would surpass $15,000 in the long term. The acquisitions from Bitmine are partially offset by BlackRock, which has continued to sell ETH as part of its ETF portfolio rebalancing. The Ethereum market outlook remains shaky, with open interest and CME gap analysis hinting at a potential rebound in the long term. #Ethereum