Tom Lee’s BitMine Buys 51,162 ETH as Vitalik Sells

BitMine Purchases 51,162 ETH, Increasing Holdings to 4.42 Million, While 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.

BitMine confirmed it purchased 51,162 ETH, while Ethereum co-founder Vitalik Buterin resumed selling part of his holdings.

The transactions occurred as Ether traded near $1,928 following recent price swings.

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.

Based on a reported valuation of $1,958 per token, the holdings are worth about $8.66 billion.

Tom Lee’s Bitmine just bought another 51,162 $ETH 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 $ETH holdings. pic.twitter.com/bffyeRkcFb

— Grey BTC (@greybtc) February 23, 2026

The firm stated that its Ethereum position equals 3.66% of the 120.7 million ETH supply.

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.

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.

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.

This represents around 69% of its total Ethereum holdings. 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.

Tom Lee, chairman of BitMine, said the firm continues executing its treasury strategy during what he described as a “mini crypto winter.”

He cited Wall Street tokenization, AI adoption, and the creator economy as drivers for Ethereum demand.

BitMine is also preparing to launch the Made in America Validator Network in early 2026.

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. The sales followed a two-week pause in activity.

vitalik.eth(@VitalikButerin) is selling $ETH faster again.

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

Last time he sold 6,958 $ETH($14.78M), $ETH dropped from $2,360 to $1,825 — a 22.7% fall.… pic.twitter.com/v2x6Q3ZTme

— Lookonchain (@lookonchain) February 23, 2026

Earlier transactions showed that Buterin sold 6,958 ETH when prices moved from $2,360 to $1,825.

The latest sale occurred as Ether traded near $1,928. Market data shows that Buterin still holds more than 224,106 ETH.

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.

Ethereum continues to trade below recent highs as both institutional accumulation and founder sales remain in focus.