Bitmine Immersion Technologies (BMNR) purchased 40,000 ETH late on February 9, 2026. The acquisition cost approximately $83.4 million. On-chain data identified the transaction following a separate 40,000 ETH purchase earlier in the week. The company reported total holdings of 4.326 million ETH as of February 8.
Executive Chairman Tom Lee anticipates a V-shaped price recovery for Ethereum. Lee characterized the recent market pullback as a strategic buying opportunity. Bitmine Immersion plans to launch its MAVAN staking solution in the first quarter of 2026.
The company operates as a dedicated Ethereum treasury to support the upcoming staking launch. BMNR shares rose during the February 9 regular trading session. The stock declined slightly in after-hours trading following the announcement.