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BitMine deepens ETH treasury as price holds above $4,000
BitMine Immersion Tech has again increased its corporate Ethereum treasury, adding 27,316 ETH — roughly $113 million at current market rates — according to on-chain tracking by Lookonchain. The purchase raises the company’s total Ethereum stash to about 3.31 million ETH, a holding now valued at roughly $13.3 billion and making BitMine one of the largest institutional holders of ETH globally.
Details of the acquisition and portfolio snapshot
The newly acquired 27,316 ETH sits alongside a diversified corporate portfolio worth approximately $14.2 billion. BitMine’s balance sheet includes Ethereum purchased at an average price near $4,164 per token, 192 BTC, an $88 million equity position in Eightco Holdings, and roughly $305 million in cash reserves. Collectively, BitMine controls an estimated 2.8% of Ethereum’s circulating supply as it pursues a longer-term target near 5%.
On-chain transparency tools have made it easier for market participants to follow large corporate treasury moves — and BitMine’s steady accumulation has drawn renewed attention from traders and institutional investors.
Why BitMine is buying: macro and market context
Company leadership attributes the aggressive accumulation strategy to an improving macro backdrop and a more favorable market structure. BitMine’s chairman noted that both Bitcoin and Ethereum charts have shifted toward a constructive technical outlook and that institutional flows are beginning to re-enter crypto markets after earlier volatility. That combination, the firm believes, supports continued strategic accumulation of digital assets.
Ethereum price action and technical levels
Ethereum (ETH) is trading just above the psychologically important $4,000 level after recovering from a short pullback earlier in the week. Market feeds show ETH around $4,033 — a modest dip over 24 hours but a weekly gain — with buyers stepping in after a local low near $3,931. A prior surge took price as high as $4,253, where sellers pushed back, and bulls are now watching a retest of the $4,250–$4,300 resistance zone for confirmation of a broader breakout.
Ethereum price chart
Analysts note that reclaiming and closing above the recent weekly high would open the path for ETH to challenge multi-month resistance and could attract additional institutional demand. Conversely, a sustained fall below $4,000 would likely dampen momentum and invite short-term selling pressure.
On-chain momentum and institutional implications
BitMine’s latest purchase underlines a larger narrative: growing institutional allocation to Ethereum. On-chain metrics, treasury disclosures, and public equity investments by major players are contributing to a perception of stronger structural demand for ETH. For traders and long-term holders, the key variables to monitor are confirmed inflows to custody, exchange reserve trends, and macroeconomic catalysts such as U.S.–China trade developments and equity market strength.
As BitMine continues to build its Ethereum position, the market will watch price behavior around the $4,000 support zone and the next resistance cluster — outcomes that could influence broader crypto market sentiment in the coming weeks.
Source: crypto
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