Bitmine Crypto and Cash Holdings Reach $10 Billion

As of Thursday, February 12, 2026, Bitmine Immersion Technologies (NYSE American: BMNR) has officially established itself as the premier institutional holder of Ethereum, reaching a massive $10 billion milestone in total crypto and cash holdings.

Led by Executive Chairman Tom Lee, the company’s “Alchemy of 5%” strategy—a mission to acquire 5% of the total global Ethereum supply—has placed it at the forefront of digital asset treasury management, rivaling only MicroStrategy in its commitment to institutional-grade crypto accumulation.

Bitmine’s $10 Billion Milestone: The Institutional Pivot to Ethereum

LAS VEGAS — In a landmark report released this February, Bitmine Immersion Technologies announced that its treasury has surpassed $10 billion in total value. The diversified holdings, comprised of significant digital assets and a robust cash reserve, mark a historic turning point for a company that successfully pivoted from traditional Bitcoin mining to a dominant Ethereum-centric accumulation model.

The Treasury Breakdown

As of the latest filing on February 9, 2026, Bitmine’s $10 billion treasury is anchored by a staggering position in Ethereum (ETH). The company now holds 4,325,738 ETH, representing approximately 3.58% of the total circulating supply.

The company’s Ethereum position is not merely passive. Bitmine has actively staked 2,897,459 ETH, valued at roughly $6.2 billion. This staking strategy is projected to generate over $374 million in annual rewards—or more than $1 million per day—providing the company with a consistent yield that outperforms traditional corporate treasuries.

Tom Lee and “The Alchemy of 5%”

Executive Chairman Tom Lee, also the Head of Research at Fundstrat, has championed the company’s aggressive accumulation. Lee noted that while ETH prices have faced significant volatility in early 2026, falling nearly 62% from 2025 highs, the network’s fundamentals are at an all-time high.

“This is the eighth time since 2018 that ETH prices have fallen 50% or more, yet each decline has been followed by a V-shaped recovery,” Lee stated. “The current market weakness provides the best investment opportunity we have seen in years. We are staying the course toward our goal of owning 5% of all Ethereum.”

The Roadmap: MAVAN and Beyond

Bitmine is not stopping at accumulation. In Q1 2026, the company is set to launch MAVAN (Made-in-America VAlidator Network). This dedicated staking infrastructure will allow Bitmine to internalize its staking operations, moving away from third-party providers and further increasing the efficiency of its yield generation.

The market has responded with significant liquidity; Bitmine’s stock (BMNR) recently ranked as the 107th most liquid stock in the U.S., with an average daily trading volume of $1.3 billion, placing it alongside major S&P 500 stalwarts like Arista Networks and Monolithic Power Systems.

Institutional Confidence

The $10 billion milestone is backed by a “who’s who” of institutional investors. ARK Invest’s Cathie Wood has been a vocal supporter, recently adding Bitmine shares to multiple ARK funds during market dips. Other major backers include Founders Fund, Pantera Capital, Galaxy Digital, and Bill Miller III, all of whom view Bitmine as the “picks-and-shovels” play for the Ethereum ecosystem.

As Ethereum continues to integrate into global finance as the “future of the financial system,” Bitmine’s multi-billion dollar bet positions it as the undisputed leader in public-market digital asset exposure.