As the Ethereum (ETH) value retests an important assist zone, BitMine revealed it has added one other $110 million price of ETH to its treasury holdings over the previous week, approaching an vital milestone for the corporate’s funding technique.
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BitMine’s Ethereum Bet Continues
On Tuesday, BitMine, a Bitcoin and Ethereum Network Company with a deal with accumulating crypto for long-term funding, announced its holdings had reached 4.2 million ETH tokens after buying 35,268 ETH, price roughly $110 million, up to now week.
As a outcome, the corporate, which is the biggest Ethereum Treasury firm on the planet and the second-largest world treasury, has crypto and money holdings totaling $14.5 billion at present prices.
According to the announcement, the corporate now owns 4,203,036 ETH at $3,211, 193 Bitcoin (BTC), a $22 million stake in Eightco Holdings as a part of its “Moonshots” initiative, and unencumbered money price $979 million.
After the newest buy, BitMine now holds 3.48% of ETH’s whole provide, and nears its purpose to regulate 5% of the main altcoin’s 120.7 million provide. Notably, it has achieved almost 70% if “Alchemy of 5%” goal in simply six months.
BitMine’s chairman, Thomas “Tom” Lee, said that “Ethereum’s price ratio to Bitcoin, or ETHBTC, has been steadily climbing since mid-October. In our view, this reflects investors recognizing tokenization and other use cases being developed by Wall Street are being built on Ethereum.”
As of January 19, 2026, BitMine’s whole staked ETH stands at 1,838,003, price $5.9 billion at $3,211 per ETH, a rise of 581,920 ETH up to now week.
ETH Price At Crucial Support Zone
Despite BitMine’s fixed guess on the cryptocurrency, Ethereum retraced almost all its 2026 positive factors after falling beneath the $3,000 barrier. On Tuesday, ETH recorded a 6.8% decline within the day by day timeframe, dropping from the $3,200 space to a three-week low of $2,980.
The King of altcoins has been buying and selling between the $2,600-$3,350 space for the reason that November pullbacks, reclaiming the higher zone of this vary in the course of the begin of the yr rally. Now, ETH is retesting an vital multi-support space that might outline the cryptocurrency’s short-term efficiency.
Analyst World of Charts affirmed that there are two “simple” prospects for Ethereum. If the value loses the $3,000 space, which serves because the mid-zone of its native vary and a key macro assist and resistance degree, then a retest of the $2,600 lows turns into probably.
On the opposite, if the altcoin holds this zone within the day by day timeframe and momentum builds, it might retest the vary’s higher boundary resistance once more.
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Amid the pullback, one other pseudonym market observer additionally pointed out that ETH is at present retesting its 50-day Moving Average (MA), which was reclaimed at the beginning of the yr and at present sits on the $3,089 degree.
According to the put up, if the 50-day MA holds, a move to the 200-day MA, situated across the $3,650 space, might come subsequent. “All eyes [are] on a close above the 50-day MA, which will point to a successful back test,” he added.
As of this writing, ETH is buying and selling at $2,999, a 7% decline within the weekly timeframe.
Featured Image from Unsplash.com, Chart from TradingView.com
