BitMine Buys 51K ETH as Vitalik Sells – What’s Next?

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BitMine buys 51,162 ETH, raising holdings to 4.42M, as Vitalik Buterin sells 1,869 ETH amid Ether volatility.

Tom Lee’s BitMine buys 51,162 ETH as Vitalik sells, marking a week of contrasting moves in the Ethereum market. The Ethereum market, ever the drama queen, has once again taken center stage, with BitMine playing the role of the bold investor and Vitalik the cautious retiree.

BitMine confirmed it purchased 51,162 ETH, while Ethereum co-founder Vitalik Buterin resumed selling part of his holdings. One might wonder if Vitalik is preparing for a long winter or simply testing the waters of a crypto pond that’s more turbulent than a drunken seagull’s flight.

The transactions occurred as Ether traded near $1,928 following recent price swings. A price that’s as stable as a penguin on a skateboard, and just as likely to tumble into a ditch.

BitMine Expands Ethereum Treasury

BitMine said it acquired 51,162 ETH last week. The company disclosed that its total Ethereum holdings now stand at 4,422,659 ETH. A number so large, it’s only slightly less than the total number of existential crises faced by humanity this decade.

Based on a reported valuation of $1,958 per token, the holdings are worth about $8.66 billion. A sum that could buy a small island, a few dragons, and enough tea to last a lifetime.

Tom Lee’s Bitmine just bought another 51,162 worth $98.33M.

Bitmine now holds more than 4,422,000 Ethereum worth approximately $8.66 billion, and it’s currently down more than $8.8 billion on its holdings.

– Grey BTC (@greybtc)

The firm stated that its Ethereum position equals 3.66% of the 120.7 million ETH supply. A slice of the pie so large, it’s practically a full-course meal.

It added that it has achieved over 73% of its internal “Alchemy of 5%” target within seven months. The company continues to increase its crypto net asset value per share. Or, as the rest of us call it, “fancy jargon for getting richer while everyone else panics.”

BitMine also reported total crypto, cash, and other holdings of $9.6 billion. These assets include 193 Bitcoin and $691 million in cash. It also holds stakes in Beast Industries and Eightco Holdings. A portfolio so diverse, it’s like a financial kaleidoscope.

Staking Activity and Financial Position

BitMine disclosed that 3,040,483 ETH are currently staked. At $1,958 per token, the staked assets are valued at about $6.0 billion. A sum that could fund a space colony or a very fancy retirement home for dogs.

This represents around 69% of its total Ethereum holdings. A figure so precise, it’s almost as if someone spent hours calculating it with a calculator that also doubles as a compass.

The company reported a 2.89% annualized yield over seven days. It said annualized staking revenue stands at $171 million. At scale, staking rewards could reach $249 million per year based on current rates. A future so bright, it’s practically blinding.

Tom Lee, chairman of BitMine, said the firm continues executing its treasury strategy during what he described as a “mini crypto winter.” A “mini” winter, no doubt, compared to the Arctic tundra of investor sentiment.

He cited Wall Street tokenization, AI adoption, and the creator economy as drivers for Ethereum demand. A list so optimistic, it’s like a motivational poster for a blockchain startup.

BitMine is also preparing to launch the Made in America Validator Network in early 2026. A project that sounds more like a political slogan than a tech initiative.

Related Reading: Bitmine Keeps Buying: $217M ETH Accumulated While Others Panic Sell

Vitalik Buterin Resumes ETH Sales

While BitMine increased its position, Vitalik Buterin sold 1,869 ETH over the weekend. Blockchain tracking data valued the sale at about $3.7 million. A sum that’s enough to buy a small island, but not enough to buy peace of mind.

Blockchain tracking data valued the sale at about $3.7 million. The sales followed a two-week pause in activity. A pause so long, it’s like the market was holding its breath.

vitalik.eth() is selling faster again.

In the past 2 days, he has sold 1,869 ($3.67M). During that time, fell from $1,988 to $1,875, down 5.7%.

Last time he sold 6,958 ($14.78M), dropped from $2,360 to $1,825 – a 22.7% fall.…

– Lookonchain (@lookonchain)

Earlier transactions showed that Buterin sold 6,958 ETH when prices moved from $2,360 to $1,825. A move so dramatic, it’s like watching a soap opera with a budget for special effects.

The latest sale occurred as Ether traded near $1,928. Market data shows that Buterin still holds more than 224,106 ETH. A fortune so vast, it’s practically a second income.

In January, Buterin said he withdrew 16,384 ETH to fund projects that support open and secure software. He stated that the funds would also support privacy and long-term ecosystem resilience. A noble cause, but one wonders if he’s also funding a secret society of blockchain philosophers.

Ethereum continues to trade below recent highs as both institutional accumulation and founder sales remain in focus. A market as unpredictable as a magician’s rabbit-always there, never quite where you expect.

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2026-02-24 08:18