Despite losses at BitMine, Major Banks are Growing their Holdings of BMNR Stock
Recent documents show that large Wall Street banks are continuing to grow their positions in BMNR stock, even with large losses at BitMine. Included in these firms are Bank of America (BOA) and the Royal Bank of Canada (RBC), demonstrating increasing institutional confidence in the Ethereum-focused treasury company.
In BOA’s Q4 filing released this Tuesday, it’s stated that BOA has increased its BMNR stock holdings by 16 times, which is almost unparalleled in the banking industry. On December 31, 2025, BOA had 3,162,085 shares, which translates to around $85 million. RBC also increased its stake to 1.21x during this period with approximately $20.7 million at the time.
This comes as BitMine is currently battling around $8 billion in paper losses. Analysts speculate that the banks’ purchases were made in December 2025 prior to the January crypto market crash, which would have also contributed to the banks’ outpricing themselves against the entire market.
The ongoing purchases show confidence in BitMine’s survival as it continues to build its position in Ethereum. Just yesterday CoinGape reported that BitMine purchased another $92.4 million worth of ETH. The ongoing purchases show an Ethereum bullish position, which could potentially assist in supporting BMNR stock price, that is struggling to go up.
While most crypto firms are divesting, BitMine continues to invest. Trend Research, for example, completely sold off its Ethereum position, and prominent investors like Peter Thiel just sold off his Ethereum treasuries ETHZilla.
Nevertheless, BitMine continues to receive institutional confidence. For instance, BlackRock just increased its BitMine position by 165%, showing that at least some institutional players are still betting ona BitMine.
Market participants are clearly treading lightly. Chairman Tom Lee made remarks regarding current market conditions being reminiscent of past bear markets, especially those of 2018 and 2022.
Lee also pointed out that unlike other bear markets, there are not notable collapses of large players, in this case, the ongoing accumulation of BMNR stock. They also reiterated that Ethereum is still undervalued and that BitMine will continue to build its position throughout the mini-winter of crypto.
To summarize, the new filings indicate that we are still witnessing large players of the market continuing to build their position in BitMine and BMNR stock, which is a sign of the large players believing in the long-term value of the firm’s strategy of accumulating Ethereum, as well as a sign of large player confidence in the continued participation in crypto, despite the current, ongoing volatility.
