BitMine’s Ethereum Holdings Near 3.5% Supply Milestone As ETH Falls Below $3,000

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As the Ethereum (ETH) terms retests a important enactment zone, BitMine revealed it has added different $110 cardinal worthy of ETH to its treasury holdings implicit the past week, approaching an important milestone for the company’s concern strategy.

BitMine’s Ethereum Bet Continues

On Tuesday, BitMine, a Bitcoin and Ethereum Network Company with a absorption connected accumulating crypto for semipermanent investment, announced its holdings had reached 4.2 cardinal ETH tokens aft acquiring 35,268 ETH, worthy astir $110 million, successful the past week.

As a result, the company, which is the largest Ethereum Treasury institution successful the satellite and the second-largest planetary treasury, has crypto and currency holdings totaling $14.5 cardinal astatine existent prices.

According to the announcement, the institution present owns 4,203,036 ETH astatine $3,211, 193 Bitcoin (BTC), a $22 cardinal involvement successful Eightco Holdings arsenic portion of its “Moonshots” initiative, and unencumbered currency worthy $979 million.

After the latest purchase, BitMine present holds 3.48% of ETH’s full supply, and nears its extremity to power 5% of the starring altcoin’s 120.7 cardinal supply. Notably, it has achieved astir 70% if “Alchemy of 5%” people successful conscionable six months.

BitMine’s chairman, Thomas “Tom” Lee, stated that “Ethereum’s terms ratio to Bitcoin, oregon ETHBTC, has been steadily climbing since mid-October. In our view, this reflects investors recognizing tokenization and different usage cases being developed by Wall Street are being built connected Ethereum.”

As of January 19, 2026, BitMine’s full staked ETH stands astatine 1,838,003, worthy $5.9 cardinal astatine $3,211 per ETH, an summation of 581,920 ETH successful the past week.

ETH Price At Crucial Support Zone

Despite BitMine’s changeless stake connected the cryptocurrency, Ethereum retraced astir each its 2026 gains aft falling beneath the $3,000 barrier. On Tuesday, ETH recorded a 6.8% diminution successful the regular timeframe, dropping from the $3,200 country to a three-week debased of $2,980.

The King of altcoins has been trading betwixt the $2,600-$3,350 country since the November pullbacks, reclaiming the precocious portion of this scope during the commencement of the twelvemonth rally. Now, ETH is retesting an important multi-support country that could specify the cryptocurrency’s short-term performance.

Analyst World of Charts affirmed that determination are 2 “simple” possibilities for Ethereum. If the terms loses the $3,000 area, which serves arsenic the mid-zone of its section scope and a cardinal macro enactment and absorption level, past a retest of the $2,600 lows becomes likely.

On the contrary, if the altcoin holds this portion successful the regular timeframe and momentum builds, it could retest the range’s precocious bound absorption again.

Amid the pullback, different pseudonym marketplace perceiver besides pointed retired that ETH is presently retesting its 50-day Moving Average (MA), which was reclaimed astatine the commencement of the twelvemonth and presently sits astatine the $3,089 level.

According to the post, if the 50-day MA holds, a move to the 200-day MA, located astir the $3,650 area, could travel next. “All eyes [are] connected a adjacent supra the 50-day MA, which volition constituent to a palmy backmost test,” helium added.

As of this writing, ETH is trading astatine $2,999, a 7% diminution successful the play timeframe.