As the Ethereum (ETH) price retests a crucial support zone, BitMine revealed it has added another $110 million worth of ETH to its treasury holdings over the past week, approaching an important milestone for the company’s investment strategy.

BitMine’s Ethereum Bet Continues

On Tuesday, BitMine, a Bitcoin and Ethereum Network Company with a focus on accumulating crypto for long-term investment, announced its holdings had reached 4.2 million ETH tokens after acquiring 35,268 ETH, worth roughly $110 million, in the past week.

As a result, the company, which is the largest Ethereum Treasury company in the world and the second-largest global treasury, has crypto and cash holdings totaling $14.5 billion at current prices.

According to the announcement, the company now owns 4,203,036 ETH at $3,211, 193 Bitcoin (BTC), a $22 million stake in Eightco Holdings as part of its “Moonshots” initiative, and unencumbered cash worth $979 million.

After the latest purchase, BitMine now holds 3.48% of ETH’s total supply, and nears its goal to control 5% of the leading altcoin’s 120.7 million supply. Notably, it has achieved nearly 70% if “Alchemy of 5%” target in just six months.

BitMine’s chairman, Thomas “Tom” Lee, stated 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 total staked ETH stands at 1,838,003, worth $5.9 billion at $3,211 per ETH, an increase of 581,920 ETH in the past week.

ETH Price At Crucial Support Zone

Despite BitMine’s constant bet on the cryptocurrency, Ethereum retraced nearly all its 2026 gains after falling below the $3,000 barrier. On Tuesday, ETH recorded a 6.8% decline in the daily timeframe, dropping from the $3,200 area to a three-week low of $2,980.

The King of altcoins has been trading between the $2,600-$3,350 area since the November pullbacks, reclaiming the upper zone of this range during the start of the year rally. Now, ETH is retesting an important multi-support area that could define the cryptocurrency’s short-term performance.

Analyst World of Charts affirmed that there are two “simple” possibilities for Ethereum. If the price loses the $3,000 area, which serves as the mid-zone of its local range and a key macro support and resistance level, then a retest of the $2,600 lows becomes likely.

On the contrary, if the altcoin holds this zone in the daily timeframe and momentum builds, it could retest the range’s upper boundary resistance again.

Amid the pullback, another pseudonym market observer also pointed out that ETH is currently retesting its 50-day Moving Average (MA), which was reclaimed at the start of the year and currently sits at the $3,089 level.

According to the post, if the 50-day MA holds, a move to the 200-day MA, located around the $3,650 area, could come next. “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 trading at $2,999, a 7% decline in the weekly timeframe.

Ethereum treasury company Bitmine has announced a $200 million investment into Beast Industries, owned by popular creator MrBeast.

Bitmine Is Making An Investment In MrBeast-Owned Firm

As revealed in a press release, Bitmine Immersion Technologies is investing $200 million into Beast Industries in a deal that’s expected to close on or around January 19th.

Originally a cryptocurrency mining-focused company, Bitmine pivoted into being an Ethereum treasury company in mid-2025. Since then, the firm has aggressively accumulated ETH and established itself as the second largest digital asset treasury in the world behind Strategy.

Now, it seems Bitmine is looking to diversify with the Beast Industries move. Beast Industries is an entertainment company founded and led by Jimmy Donaldson, the personality behind MrBeast.

MrBeast is the most subscribed channel on YouTube with more than 460 million subscribers. “MrBeast and Beast Industries, in our view, is the leading content creator of our generation, with a reach and engagement unmatched with GenZ, GenAlpha and Millennials,” said Thomas ‘Tom’ Lee, Bitmine Chairman.

In December, Beast Industries revealed a new financial services platform. Now, with the Bitmine investment, Jeff Housenbold, Beast Industries CEO, has hinted at a collaboration with Bitmine for the platform.

Housenbold noted:

Their support is a strong validation of our vision, strategy, and growth trajectory and it provides additional capital to achieve our goal to become the most impactful entertainment brand in the world. We look forward to exploring ways to further collaborate and incorporate DeFi into our upcoming financial services platform.

Bitmine has set a long-term goal of acquiring 5% of the Ethereum supply for its treasury. According to a Monday press release, the company’s holdings have grown to around 4.17 million ETH, equivalent to 3.45% of the cryptocurrency’s total supply in circulation.

Thus, the firm is still some ways from its 5% target, but considering that it only started accumulating ETH half a year ago, its progress is significant. Bitmine’s momentum could, however, soon face a structural obstacle.

Bitmine currently has a 500 million share authorization and the company is looking to increase the cap via a shareholder vote. “Bitmine charter has an unusual feature requiring 50.1% of all shares outstanding to support a share increase,” said Lee. “This is an extremely high bar and thus, makes it very difficult to get an authorized share increase.”

The proposal will be discussed at the firm’s annual stock meeting, scheduled for January 15th, with the remaining votes tied to in-person participation after remote voting channels were closed earlier this week.

Ethereum Price

Ethereum has witnessed a notable jump over the last week as its price has surged nearly 7% to the $3,300 level.

Bitmine Immersion Technologies has been making a statement with its assertive accumulation and staking of Ethereum. In just a few months, the company has assembled one of the largest known ETH treasuries held by a publicly traded firm, moving steadily toward its stated ambitious goal of controlling 5% of the total Ethereum supply. 

According to a recent disclosure, Bitmine is now holding about 4.17 million Ethereum (ETH) tokens, which is about 3.45% of the total circulating supply. Furthermore, the company’s total staked ETH tally has now surpassed 1.2 million tokens. 

Heavy Stakes And A Clear Target

Bitmine is now the largest fresh money buyer of ETH in the world, and its string of ETH purchases has kept many Ethereum investors on the edge of their seats on how this might affect the price of the altcoin. 

Bitmine Immersion has funneled about $3.9 billion worth of Ethereum into staking under the leadership of Tom Lee, a move that shows conviction in ETH’s long-term prospects and the company’s desire to generate yield for its investors. Notably, the company’s total staked ETH tally has now surpassed 1.2 million tokens, bringing it close to 70 percent of the way toward its self-proclaimed “Alchemy of 5%” target of owning 5% of all Ethereum in circulation.

Bitmine’s approach to staking is starting to be much more than passive yield. The company is preparing to launch its own Made in America Validator Network (MAVAN), which it says will be among the largest ETH staking infrastructures in the ecosystem once live. 

This means Bitmine is now looking to transition from simply holding and staking Ether through third parties to becoming a staking infrastructure provider. If all of Bitmine’s staked ETH were managed through MAVAN and its partners at current rates, Ethereum staking fees could generate about $370 million for the company.

Growing The Balance Sheet To Sustain Ethereum Accumulation

Bitmine’s balance sheet extends well past its staking operations. The company now holds a diversified pool of assets spanning Bitcoin, Ethereum, other digital assets, and cash, with total holdings valued at around $14 billion, including its just over 4 million ETH. 

Interestingly, the company has continued to add to its holdings in recent weeks, even as it increases its liquid cash position. The most recent purchase was of 24,266 ETH last week.

At the same time, the company made a corporate decision that it says is critical to sustaining this strategy of steadily accumulating more Ethereum tokens. Notably, Bitmine is now seeking a positive 50.1% shareholder vote to increase its authorized share count at its upcoming annual stockholder meeting scheduled for January 15, 2026. 

According to the company, the current authorization of 500 million shares is close to being fully utilized, and once that limitation is reached, its ability to continue acquiring Ethereum at the current pace would slow down massively.