While spot ETFs and short-term traders wobble, Tom Lee’s BitMine Immersion Technologies is quietly doubling down on Ethereum. What happened - On Feb. 18, Lookonchain/X data showed BitMine bought 20,000 ETH (about $39.8 million) via BitGo as ETH slid below $2,000. - This purchase isn’t isolated: the firm disclosed it bought 45,759 ETH in a single week shortly before, part of a steady accumulation strategy. Why it matters - BitMine’s buys signal a “buy-the-dip” mindset—treating price weakness as opportunity rather than a warning. The firm says it’s pursuing an “Alchemy of 5%” target (aiming to control 5% of Ethereum’s total supply) and has reached roughly 72% of that goal—about 3.6% of supply if the math holds—putting it on track to be a major ETH holder. - Observers have compared this approach to Michael Saylor’s long-term Bitcoin accumulation strategy at MicroStrategy. Broader picture - Other companies are also building large ETH treasuries: SharpLink reportedly holds ~864,840 ETH and GameSquare ~15,630 ETH. Despite these accumulation plays, related stocks have tumbled recently—GAME down ~31% and SBET down ~33% over the past month—suggesting public investors remain focused on near-term cash flow and stability. - Institutional flows appear cautious: spot Ethereum ETFs recorded about $41.8 million of outflows on Feb. 18. Revenue and staking strategy - BitMine says roughly 3.04 million ETH is currently staked, generating about $176 million per year in staking rewards. The firm plans to launch a proprietary staking/validator network called MAVAN in early 2026, which it expects will raise annual staking income to roughly $252 million by allowing BitMine to manage staking directly. Bottom line BitMine’s moves underscore a conviction that owning protocol-level assets and capturing staking yield matters more than short-term price timing. If their plan succeeds, the company could become an influential ETH holder and staking operator—even as ETFs and market sentiment swing. Disclaimer: This article is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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