Ethereum On-Chain RWA Total Value Surpasses $17 Billion, Marking a 315% Year-on-Year Growth

On February 17th, Ember Combine released its latest announcement detailing the position profit and loss (P&L) for Strategy and BitMine: - **Strategy (Bitcoin Treasury firm):** Holds 717,131 BTC (valued at $48.765 billion); average cost per BTC = $76,027; unrealized loss = $5.756 billion. - **BitMine (Ethereum Treasury firm):** Holds 4,371,497 ETH (valued at $8.673 billion); average cost per ETH = $3,801; unrealized loss = $7.943 billion.

On February 17, Bitcoin mining firm Hive announced its fiscal third quarter ended December 31, 2025, generated $93.1 million in revenue—up 219% year-over-year and 7% quarter-over-quarter. Hive also set a quarterly revenue record in November 2024. Hive attributed the growth to the overall expansion of its Bitcoin mining network and the BUZZ high-performance computing (HPC) platform. However, "accelerated depreciation and non-cash revaluation adjustments tied to its Paraguay expansion" pushed Hive Mining Corporation to a $91.3 million net loss, eroding the gains from its revenue growth.

On February 17th, LookOnChain monitoring shows that whale address 0x9b3b deposited an additional 500,000 USDC into Hyperliquid today, continuing to leverage WLFI positions. He currently holds 42.47 million WLFI tokens (valued at $4.26 million), with unrealized losses exceeding $1 million.

**February 17 — Per an official announcement, BitMine added 45,759 ETH to its holdings last week, pushing its total to 4.3715 million coins — representing 3.62% of Ethereum’s total supply (120.7 million).** **Of that total, 3,040,483 ETH is already staked. At the then-current ETH price of $1,998, the staked amount is valued at approximately $61 billion.**

Feb. 17 – Per data from Coinbob Popular Address Monitor, the largest on-chain gold bear whale—dubbed "On-chain Stockholder" (address: 0xfc66...)—recently adjusted its positions: it closed roughly $17 million in short positions linked to the U.S. stock storage sector, while continuing to expand its gold-related short positions. Its total short exposure to PAXG and xyz.GOLD now stands at $44 million. Today, spot gold briefly fell below $1,900 per ounce, flipping the whale’s gold short positions fully from unrealized losses to profits. Through stock and precious metal shorts, plus crypto swing trading, the whale has accumulated total profits of $15.4 million this month. Its current key positions are: - 5x PAXG (on-chain gold) shorts: ~$28.16 million position size, $4,979 average entry price, ~$320,000 unrealized gain; - 6x long XYZ100 positions: ~$19.3 million position size, $24,567 average entry price, ~$40,000 unrealized loss; - 5x GOLD (Gold Mapping Contract) shorts: ~$16.4 m

On February 17th, Polymarket data shows the probability that Trump-led Republicans will win the Senate in the midterm elections has dropped to a new low of 60%. Meanwhile, Democrats now hold an 83% chance of taking control of the House.