BitMine Invests $83.6M in Ethereum Amid Market Slump, Eyes 5% of ETH Supply!

BitMine invests $83.6M in Ethereum, moving closer to its 5% supply target amidst market slump and strong utility growth.

Fridah Kangai
February 11, 2026
10:30 am

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

BitMine’s $83.6M Ethereum purchase strengthens its position in crypto.
Ethereum’s price decline sparks BitMine’s increased investment strategy.
BitMine nears 5% Ethereum supply target despite market downturn.

BitMine Immersion Technologies has made a bold move, purchasing $83.6 million worth of Ethereum this week. At approximately 12:40 p.m. on Monday, the company purchased 20,000 ETH at FalconX, as per the Arkham Intelligence data. In another strategic acquisition, BitMine bought another 20,000 ETH according to BitGo, and reinforced its hold in Ethereum. The price of Ethereum was trading at approximately $2,090 at the time, according to the price data of the Block.

The move contributes to the already significant holdings of Ethereum by BitMine, who now have 4,325,738 ETH with a valuation of about $9.14 billion US. The further investments made by the company are in addition to the fact that the company had purchased as many as 40,613 ETH during the week ending on February 8. BitMine is moving in the right direction towards its lofty goal of owning 5 percent of the entire supply of Ethereum.

It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 20,000 $ETH($42.3M) from BitGo 7 hours ago.

Today alone, it has bought 40,000 $ETH($83.4M).https://t.co/cY4jpzYpQu pic.twitter.com/YNTMDgdo3h
— Lookonchain (@lookonchain) February 10, 2026

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BitMine Doubles Down on Ethereum as Price Continues to Fall

Regardless of the fact that Ethereum is currently selling at 57 percent lower than it was at the all-time high of $4,946 in August 2025, BitMine is not deterred by its investment approach. The Executive Chairman, Tom Lee, has indicated that the network utility of Ethereum has hit record levels despite the market being in a downturn. Indeed, he perceives the price decline as a chance and thinks that the Ethereum fundamentals are getting stronger, and the market does not reflect the actual value.

The other strategy adopted by BitMine is to stake a good percentage of its holdings, and currently, approximately 67 percent of its total Ethereum is staked. This stake will earn an approximate of $202 million every year. Although the company has already received criticism over the unrealized losses, Lee assured the investors that it is a part of the long-term Ethereum treasury strategy. Nevertheless, he is still optimistic about the fact that eventually, BitMine will overtake the market cycle and reiterated that Ethereum is the future of finance.

BitMine’s continued acquisitions and staking efforts underscore its unwavering commitment to the Ethereum ecosystem. The company is placing a second bet on its strategy even in times of uncertainty in the market, which sets it up to succeed in the long run in the world of cryptocurrency.

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