BitMine stakes $282M in Ethereum despite 2.71% market dip

The January blues within the crypto market have now was a chilly February slowdown.

Because the finish of January 2026, the robust rallies seen final 12 months have light. As a substitute, the market has entered a sluggish and regular decline that’s testing even long-term traders.

On the time of writing, the entire crypto market worth has fallen to $2.3 trillion, down by 2.71% in simply at some point, in response to CoinMarketCap data.

Many headlines body this as a crash, however the actuality is extra nuanced. The decline is being pushed largely by establishments lowering danger, shifting rate of interest expectations, and weakening confidence, fairly than panic promoting by retail traders.

Tom Lee’s BitMine provides extra ETH

Whereas small traders are feeling unsure, massive establishments are nonetheless displaying robust curiosity in Ethereum [ETH]. One of many most important gamers is Tom Lee’s firm, BitMine.

As a substitute of being cautious in the course of the February market drop, the agency used this era to purchase extra ETH at decrease costs. On the eleventh of February, the corporate moved one other 140,400 ETH, price round $282 million, into staking.

This pushed its complete staked Ethereum to just about 3 million ETH, valued at greater than $6 billion.

At press time, about 69% of BitMine’s ETH is locked in staking. This implies a considerable amount of Ethereum is taken out of the market and can’t be bought simply.

Supply: Lookonchain

BitMine’s earlier ETH purchases

Over the previous two days, BitMine has been aggressively shopping for Ethereum, particularly close to the important thing $2,000 stage. On the ninth of February, when ETH dropped to $2,011.82, the corporate bought 20,000 ETH price about $41 million from FalconX.

The subsequent day, it doubled down, acquiring one other 40,000 ETH price roughly $83 million, together with 20,000 ETH from BitGo at a every day low of $2,003.10.

By staking such massive quantities whereas costs are falling, BitMine indicators confidence in Ethereum’s lengthy‑time period potential. Prior to now 30 days alone, it has added greater than 180,000 ETH to its holdings.

BMNR inventory value motion

BitMine’s technique can also be underneath strain. Following these ETH purchases, the corporate’s shares (BMNR) had a tough buying and selling day. The inventory closed at $19.95, falling by almost 7%, in response to Google Finance.

With the entire crypto market worth staying close to $2.3 trillion, many individuals are watching carefully.

Thus, if BitMine’s ‘purchase the dip’ technique works, the corporate might safe a serious place in decentralized finance at low costs. But when the market continues to fall, strain on BMNR traders might improve.

Ultimate Ideas

• BitMine’s aggressive Ethereum shopping for indicators robust long-term confidence regardless of falling costs and weak sentiment.
• Locking almost 69% of its ETH in staking reduces market provide and reveals the corporate just isn’t planning fast exits.