BlockBeats News, February 2nd, according to official sources, BitMine today announced that its holdings of cryptocurrency, cash, and "potential projects" have a total value of 10.7 billion U.S. dollars, with an additional 41,788 ETH acquired in the past week. As of 6:00 PM Eastern Time on February 1, 2026, the company's crypto assets include:· 4,285,125 ETH· 193 BTC· $200 million equity investment in Beast Industries· $20 million equity investment in Eightco Holdings (NASDAQ: ORBS) as a "potential project"· and a total of $5.86 billion in cashBitMine's CEO Thomas "Tom" Lee stated: "ETH's price has dropped significantly from around $3,000 to about $2,300 over the past month. Meanwhile, Ethereum's daily transaction volume has hit a historical high of 2.5 million transactions, and the number of daily active addresses in 2026 has surged to a historical peak of 1 million. In other words, Ethereum's on-chain activities and fundamentals have significantly strengthened in the past few months, but the ETH price has been falling. During the crypto winter of 2021-2022 or 2018-2019, Ethereum transaction activity and active wallet count both declined, which is exactly the opposite of what we have observed over the past 12 months. Therefore, we believe that the main reason for explaining the weakness in ETH price is more due to non-fundamental factors. First and foremost, we believe that the most significant factor is that, due to the aftermath of the 'October 10th' event, leveraged funds have not yet returned to the cryptocurrency market."
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