BitMine, the crypto equivalent of a Black Friday shopper, snags 45,759 ETH, because apparently, Ethereum was having a “everything must go” sale.
In a move that screams “I’ll take it all, thanks,” BitMine Immersion Technologies has hoarded another 45,759 Ethereum, presumably while the market was busy having an existential crisis. CryptoQuant, the Nostradamus of crypto, is waving its hands frantically, claiming this could be the bottom. Or maybe it’s just doing jazz hands. Hard to tell.
Institutional Buying: Because Panic Selling is for Amateurs
According to a press release that probably used more ink than necessary, BitMine confirmed it bought 45,759 ETH last week. Because, you know, why not? Ethereum’s price was down, and Tom Lee apparently believes in the “buy low, laugh later” philosophy.
At the time of writing, ETH was trading near $1,974, which is basically the crypto equivalent of finding a $20 bill in your old jeans. BitMine, however, was like, “Yeah, we’ll take 45,759 of those, please.”
🚨 JUST IN:
Tom Lee’s BitMine has acquired 45,759 ETH, investing approximately $91 million. Because who needs a yacht when you can have Ethereum?
– Jax (@Jaxweah)
Tom Lee called the pullback “attractive,” which is crypto-speak for “on sale.” He also mentioned something about Ethereum’s fundamentals, but let’s be honest, we were all too busy marveling at their shopping spree.
BitMine plans to keep buying ETH, regardless of whether the price decides to take a nap or go for a rollercoaster ride. Commitment? They’ve got it in spades.
With this latest purchase, BitMine now owns 4,371,497 ETH, which is roughly “a lot.” Their average acquisition price is $1,998 per coin, because apparently, they got a bulk discount.
Oh, and they also have 193 Bitcoin and $670 million in cash, just in case they need to buy a small country or something.
Staked ETH: Because Idle Coins Are Overrated
BitMine has staked 3,040,483 ETH, which is valued at around $6.1 billion. They’re getting a 2.89% seven-day staking yield, which is basically the crypto version of a high-interest savings account. Except way more exciting.
Based on this, they’re projecting up to $252 million in annual staking rewards. Or, as they put it, “enough to buy a lot of avocado toast.”
They’re also building their Made in America Validator Network, or MAVAN, because everything sounds more official with an acronym. Rollout is set for early 2026, which in crypto time is roughly “next Tuesday.”
Related Reading: Tom Lee’s Bitmine Adds 140K ETH, Because Why Stop Now?
CryptoQuant: The Whale Whisperers
CryptoQuant claims Ethereum whales are holding onto their coins like they’re glued to their hands. Apparently, they haven’t realized profits in this cycle and are just accumulating more. Because, you know, why not?
These patterns, CryptoQuant says, have appeared near previous turning points. So, either we’re at a turning point, or the whales are just really stubborn. Hard to say.
Meanwhile, Ethereum’s price is doing its best impression of a yo-yo, and BitMine’s stock, BMNR, is down 2.67% in premarket trading. Because even crypto millionaires have bad days.
BitMine’s total holdings are now $9.6 billion, and their Ethereum stash represents 3.62% of the total ETH supply. They’re aiming for 5%, because why not dream big?
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2026-02-18 08:37