Bitmine’s Ethereum Bonanza: 17,722 ETH Acquired While Crypto ‘Mini-Winter’ Chills

by

Key Highlights

  • Bitmine scoops up 17,722 ETH, expanding its Ethereum treasure chest while the crypto world takes a nap.
  • Companies like Sharplink are not just hoarding ETH; they’re putting it to work like a diligent beaver building a dam.
  • Institutions are flexing their muscles, showing long-term love for Ethereum-it’s the new corporate crush.

In the grand bazaar of Ethereum, a mighty purchase has echoed through the ether! Bitmine Immersion Technologies (BMNR), with the illustrious Tom Lee at the helm, has freshly minted 17,722 ETH worth a cool $34.74 million in just one tick of the clock. A blockchain sleuth named Lookonchain spilled the beans that this is all part of Bitmine’s master plan to accumulate like a squirrel hoarding acorns.

Over the past week, three wallets that probably belong to this digital treasure hunter have gobbled up a staggering 62,722 ETH, amounting to a jaw-dropping $123.25 million. These transactions were born from Kraken’s hot wallet, accompanied by a tiny test transfer of 0.001 ETH-because what’s a big leap without a little hop first?

Tom Lee(@fundstrat)’s #Bitmine snatched another 17,722 $ETH ($34.74M) 8 hours ago.

This week, 3 wallets likely linked to #Bitmine that bought a total of 62,722 $ETH ($123.25M).

– Lookonchain (@lookonchain) February 21, 2026

This latest move follows Bitmine’s announcement on February 17, revealing that its collective crypto, cash, and equity holdings have ballooned to an impressive $9.6 billion as of February 16, 2026. They’ve already snagged 45,759 ETH in the past week alone, solidifying their position like a cat lounging in a sunny spot.

Chairman Thomas “Tom” Lee declared, “At Bitmine, we aren’t fortune tellers. We can’t control Ethereum’s price, but we’re buying it like it’s going out of style, because long-term, Ethereum is a superstar.” So here they go, merrily acquiring ETH as if they were collecting stamps during a rainstorm.

Bitmine’s Growing Ethereum Treasure

Bitmine now boasts a whopping 4,371,497 ETH, each sitting pretty at around $1,998, alongside 193 BTC. The company also sits on a pile of $670 million in cash, a $200 million stake in Beast Industries, and a paltry $17 million in Eightco Holdings. With such assets, Bitmine is like the kingpin controlling nearly 3.62% of all Ethereum in existence, which totals 120.7 million ETH. Talk about a power move!

Earlier this month, the firm stacked an additional 40,613 ETH onto its already burgeoning pile. Chairman Tom Lee likened today’s market to past downturns of 2018 and 2022, but noted with a smirk that, unlike before, there haven’t been any major industry catastrophes this time around.

The saga of hefty institutional buys doesn’t end with Bitmine. Nasdaq-listed Sharplink, with the backing of Consensys, has turned its Ethereum stash into a monumental 867,798 ETH, valued at roughly $1.69 billion-enough to make anyone’s head spin!

Matt Sheffield, the sharp-minded CIO of Sharplink, chirped on X, “Institutions are placing their bets on Sharplink being the crème de la crème of Ethereum. From less than 10% institutional ownership in June to a dazzling 46% in the latest 13F filings. We’re constructing durably and transparently-just what Wall Street craves for the new financial revolution.”

Institutions are betting on Sharplink being Ethereum with an edge. From less than 10% institutional ownership in June to 46% in the most recent 13F filings. We’re building durably and transparently which is what Wall Street needs to back the new financial order.

– Matt Sheffield (@sheffieldreport) February 19, 2026

Corporate Strategies Signal Market Confidence

Major players in the game are steadily amassing Ethereum, showcasing a growing faith in the network akin to a gambler doubling down. According to the Ethereum treasuries data, Bitmine leads the pack with over 3 million ETH, worth almost $6 billion. Sharplink isn’t just hoarding; they’re using their ETH to fuel Web3 gaming projects, holding a cool 861,251 ETH.

The Ether Machine keeps a tidy 496,712 ETH mostly for running Ethereum-based services and generating those sweet yields. The Ethereum Foundation holds 244,481 ETH to fund development and support the ecosystem. Even Coinbase Global can’t resist the siren call, keeping 137,334 ETH for operations and staking activities.

Thus, these actions reveal a shift in institutional behavior. Companies are no longer just passive holders of ETH; they are active participants in the dance. Such antics reflect a long-term belief in the Ethereum network, hinting that firms are gearing up for the sweet rewards promised by both price surges and increased network adoption.

As I pen these words, Ethereum is trading at $1,962.30 with a 24-hour volume of $20.34 billion, up 1.19% in the last 24 hours-enough to keep the crypto enthusiasts buzzing like bees in springtime.

Read More

2026-02-21 09:40