BitMine Immersion Technologies Buys 40,613 ETH on Dip

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BitMine Immersion Technologies Snaps Up 40,613 ETH in Market Drop

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 09, 2026

Key Takeaways

BitMine raised its ETH holdings to over 4.326 million after buying 40,613 ETH, even though DropsTab shows the position below cost;
The firm staked 2.87 million ETH and earned new tokens as rewards, which created a steady income stream;
BitMine kept its strategy in place, generated cash from staking and data centers, and framed its results around ETH price moves.

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BitMine Immersion Technologies Snaps Up 40,613 ETH in Market Drop

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BitMine Immersion Technologies increased its Ethereum ETH $2,096.41 position during last week’s market decline.

The firm reported on February 9 that it bought 40,613 ETH during the pullback. This raised its total balance to more than 4.326 million ETH, valued at about $8.8 billion at current prices.

Data from DropsTab shows that the portfolio is below its purchase cost.

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A large share of the company’s Ethereum, 2,873,459 ETH, is staked on the network. Staking keeps the ETH locked and supports the network.

In return, the company receives new ETH as rewards, which creates an ongoing income stream.

BitMine stated that the combined value of its crypto assets, cash, and other high-risk holdings totals $10.0 billion. The firm reported $10.6 billion in digital assets at the end of the November 2025 quarter.

The firm’s approach has drawn criticism, but its operations continue to bring in cash. Income comes from staking rewards and from its older line of business, which includes immersion-cooled data centers used for high-performance computing.

Chairman Tom Lee, who is also co-founder and chief investment officer at Fundstrat Global Advisors, has defended the strategy. He has explained that the company intends to follow Ethereum’s price behavior.

BitMine Immersion Technologies has started 2026 with another large Ethereum purchase. What did Lee say? Read the full story.