Ethereum treasury company BitMine Immersion Technologies (BMNR) continued its aggressive accumulation strategy last week, adding 42,197 ETH to its balance sheet as it edges closer to controlling 5% of Ethereum’s circulating supply.
The latest purchase brings BitMine’s total holdings to 5.74 million ETH, valued at approximately $10.3 billion at current market prices.
However, Ethereum has underperformed over the past 24 hours and risks dropping below $1,700 in the near term.
BitMine nears 5% Ethereum ownership goal
According to blockchain analytics platform Arkham, BitMine now owns roughly 4.75% of Ethereum’s circulating supply.
Based on current market prices, the company would need to acquire approximately $523.7 million worth of ETH to reach its publicly stated objective of holding 5% of all circulating Ether.
With approximately $527 million in cash and marketable securities on its balance sheet, BitMine appears to have sufficient liquidity to achieve that milestone if it chooses to continue buying.
While Ethereum remains the centerpiece of its treasury strategy, BitMine also disclosed several other digital asset investments.
Its holdings include 206 Bitcoin (BTC), a $180 million investment in Beast Industries, a $71 million stake in the Worldcoin treasury, an investment in Eightco Holdings (ORBS), and approximately $527 million in cash and marketable securities.
The diversified portfolio reflects BitMine’s broader exposure to the digital asset ecosystem beyond Ethereum alone.
BitMine Chairman Thomas Lee pointed to growing optimism surrounding US cryptocurrency regulation following increased expectations that the Clarity Act could advance.
Lee said clearer regulatory frameworks could help accelerate mainstream adoption of blockchain technology, particularly smart contract platforms like Ethereum.
He believes regulatory certainty will play an important role in integrating cryptocurrencies into everyday financial services and enterprise applications.
Lee has previously stated that BitMine’s staking income comfortably covers its dividend commitments.
According to the company, BitMine has staked approximately 4.87 million ETH, making it the world’s largest Ethereum staking participant.
Those staked assets generate an estimated $235 million in annualized staking revenue, providing a recurring income stream to support corporate obligations.
Ethereum price forecast: ETH faces key resistance near $1,807
The ETH/USD 4-hour chart is bullish and efficient despite the slight dip below $1,800.
Ethereum is attempting to build on its recent recovery but continues to face significant technical resistance just above current price levels.
On the 4-hour chart, ETH remains below both its 50-day Exponential Moving Average (EMA) at $1,807 and the 100-day EMA at $1,970.
Trading below these longer-term moving averages suggests the broader trend remains cautious despite recent gains.
Meanwhile, Ethereum continues to hold above the 20-day EMA at $1,714. This level is helping maintain short-term bullish momentum.
Technical indicators present a mixed picture.
The Relative Strength Index (RSI) has climbed to around 56, indicating improving buying momentum without yet entering overbought territory.
However, the Stochastic Oscillator, hovering near 90, suggests Ethereum may be approaching short-term exhaustion after its recent rebound, increasing the likelihood of consolidation or a temporary pullback.
If buyers maintain momentum, Ethereum could test the first major resistance at $1,807, coinciding with its 50-day EMA.
A daily candle close above this level could allow ETH to extend its rally towards key resistance zones at $1,909, $2,018, and $2,107.
A decisive break above the 50-day EMA would strengthen the case for a broader bullish recovery.
However, if selling pressure returns, traders will likely monitor the support at $1,741.
Failure to defend this level could see ETH slip towards the 20-day EMA at $1,714, with another demand zone at $1,524.
Holding above the $1,714–$1,741 support zone would help preserve Ethereum’s current recovery structure, while a breakdown below these levels could expose deeper downside targets.
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