Major Wall Street banks are aggressively increasing their stakes in crypto-related stocks, expanding their holdings in Bitmine despite the company’s massive book losses.
According to crypto media outlet NewsBTC, in a video uploaded to its YouTube channel on February 17 (local time), major financial institutions including Bank of America (BOA) and the Royal Bank of Canada (RBC) have expanded their investment exposure to Bitmine (BMNR) despite its financial downturn, demonstrating institutional confidence in the long-term resilience of the digital asset market. A recently disclosed fourth-quarter report revealed that Bank of America increased its investment by as much as 16 times compared to the previous quarter.
CoinGape reported that as of December 31, 2025, Bank of America holds 3,162,085 shares of Bitmine worth approximately $85 million. The Royal Bank of Canada also joined the buying trend, increasing its stake by 1.21 times from the previous quarter to secure holdings valued at roughly $20.7 million. This contrarian investment move has drawn market attention, given that Bitmine is currently recording book losses of about $8 billion due to its Ethereum (ETH) holdings.
The move by traditional financial institutions contrasts with the exit of other investors. While Peter Schiff has maintained a critical stance and Peter Thiel has sold his stake in Ethereum treasury firm ETHZilla and exited the market, major banks have instead viewed the situation as a buying opportunity at lower levels. BlackRock also increased its stake in Bitmine by 165%, underscoring the continued strong participation of institutional investors. Bitmine recently adhered to its aggressive asset expansion strategy by purchasing an additional $92.4 million worth of Ethereum.
Current sentiment in the digital asset market remains in a fear phase similar to past downturns. In a statement, Chairman Tom Lee said investor sentiment and enthusiasm are currently at rock-bottom levels, reminiscent of the November 2022 market bottom or the 2018 crypto winter. However, he pointed out as a positive sign that, unlike in the past, there has been no collapse of major market participants, and accumulation of companies like Bitmine is continuing.
Ultimately, Wall Street banks’ investment in Bitmine appears to be a strategic decision based on the belief that Ethereum remains undervalued. Bitmine plans to strengthen its market dominance by continuing asset purchases even during the mini-winter period in the digital asset market. This trend driven by major capital is expected to become a key turning point as crypto infrastructure firms integrate with the traditional financial system and secure new growth momentum.
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