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A major story dominating crypto markets in February 2026 is Bitmine Immersion Technologies’ aggressive accumulation of Ethereum. The company has continued buying large amounts of ETH despite market volatility, positioning itself as one of the largest corporate holders of Ethereum in the world.

Massive ETH accumulation strategy

Bitmine has been purchasing Ethereum at an accelerated pace during recent market weakness. Reports show the firm bought tens of thousands of ETH in recent days, including purchases worth more than $80 million as prices hovered near the $2,000 level.

With its latest acquisitions, Bitmine now holds more than 4.3 million ETH, valued at roughly $8–10 billion, making it the largest known corporate Ethereum treasury.

The company aims to eventually control up to 5% of Ethereum’s total supply, a strategy that would give it significant influence within the ecosystem.

Buying the dip despite losses

What makes this story striking is that Bitmine continues buying even while sitting on large unrealized losses from earlier purchases made at higher prices. Some estimates place its paper losses in the billions as ETH declined from 2025 highs.

Rather than slowing down, the firm sees the downturn as a long-term opportunity. Chairman Tom Lee has described the current market phase as a strategic accumulation period, arguing that Ethereum’s fundamentals remain strong and could support a future recovery.

Institutional bet on Ethereum’s future

Bitmine’s approach reflects growing institutional confidence in Ethereum as a core digital asset. Nearly two-thirds of its ETH holdings are now staked, generating significant annual revenue while reducing circulating supply.

The company also plans to expand its validator infrastructure and staking network in 2026, reinforcing its long-term commitment to the Ethereum ecosystem.

Analysts say this strategy mirrors corporate Bitcoin treasury models but focused on Ethereum’s smart-contract economy, tokenization potential, and growing institutional adoption.

Market impact and outlook

Bitmine’s aggressive buying has fueled debate across the crypto industry. Some analysts believe sustained institutional accumulation could tighten supply and support prices over time, especially if Ethereum demand continues growing.

Others warn that concentrating such a large share of ETH in corporate treasuries introduces new risks if market conditions deteriorate.

Conclusion

Bitmine’s ongoing Ethereum buying spree highlights a major shift in crypto markets: institutions are no longer just trading digital assets — they are building massive long-term positions.

As volatility continues, the company’s bold strategy is being closely watched by investors. Whether this accumulation marks the beginning of a new Ethereum growth cycle or a high-risk bet will likely shape the narrative of crypto markets throughout 2026.
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