Bitmine Immersion Technologies has quietly purchased $466 million worth of Ethereum, bringing its total holdings to 3.81% of the global supply.

This aggressive accumulation has pushed its corporate treasury to 4.59 million ETH, approaching 4% of all circulating tokens. Ethereum is currently trading near $2,150, and investor sentiment is shifting from worry about declines to anticipation of a supply-driven price surge, News.Az reports, citing foreign media.

Unlike passive investors, Bitmine is actively reducing Ethereum’s available supply. Its goal of holding 5% of total ETH could trigger a full market repricing. Each large buy order now moves the market more than ever before, thanks to thinner exchange liquidity.

Bitmine isn’t just storing ETH—it stakes over 3 million tokens through its Made-in-America Validator Network, generating around $272 million in annual revenue. This productive treasury mirrors MicroStrategy’s Bitcoin strategy, but with a twist: Ethereum continues to generate income while scarcity drives price sensitivity higher.

Despite geopolitical tensions, Ethereum has outperformed the S&P 500 by 2,450 basis points over two weeks. Chairman Tom Lee views recent pullbacks not as danger signals, but as last-chance buying opportunities before fundamentals drive a higher price floor.

Ethereum has reclaimed $2,150, shifting the market from accumulation to markup. Key levels to watch:

• Support: $2,000 – if defended, breakout is confirmed
• Resistance: $2,500 – a daily close above $2,300 could accelerate the uptrend

Risk remains if ETH falls below $2,000, potentially revisiting the accumulation range. Traders should watch for confirmation before committing to new positions.

With Bitmine continuing weekly purchases and Ethereum staking creating scarcity, the market may be structurally set for higher prices, making the bear narrative increasingly outdated.

News.Az 

By Aysel Mammadzada