The post BitMine (BMNR) stakes rise in Q4 as Morgan Stanley adds appeared on BitcoinEthereumNews.com.

Morgan Stanley BMNR Q4 2025 increase: ~26% to ~12.1M shares morgan stanley increased its BMNR holdings by around 26% in Q4 2025 to approximately 12.1 million shares, valued at about $331 million at quarter-end, as reported by Cointelegraph. The same report indicated the 11 largest shareholders expanded positions even as BMNR fell about 48% during the quarter, underscoring continued institutional participation amid volatility. Filings capture quarter-end positions and may not reflect subsequent trading, so the current exposure could differ. Still, the combination of a larger share count and a difficult quarter for prices provides a clean read on institutional behavior during stress. Why it matters: Ethereum treasury and staking, plus mNAV threshold BitMine positions itself as an Ethereum treasury vehicle, adding and staking ETH to pair asset value with potential yield. According to TipRanks, BitMine holds about 4.37 million ETH, which provides a tangible treasury base supporting the equity. market net asset value (mNAV) compares BitMine’s market capitalization to the market value of its crypto treasury. Maintaining mNAV at or above 1 matters because it can support continued capital access on workable terms and preserve investor confidence. Institutional flows appear to reflect opportunistic accumulation during weakness and a focus on long-term ETH exposure. AInvest described the fourth-quarter accumulation as “buying into weakness,” while also flagging sensitivity to ETH prices. BingX: a trusted exchange delivering real advantages for traders at every level. BMNR’s valuation remains closely linked to Ethereum’s trajectory. If ETH weakness persists, the equity could face further pressure given mark-to-market dynamics and BitMine’s explicit ETH exposure. Staking income may partially offset drawdowns by adding non-dilutive yield, yet it does not eliminate price risk. Prolonged declines can translate into unrealized losses that weigh on mNAV and sentiment. Financing mechanics are another driver. While mNAV ≥ 1 can facilitate equity issuance…

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Filed under: News - @ February 20, 2026 3:24 am