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\u2019s investment strategy.<\/p>\n
On Tuesday, BitMine, a Bitcoin and Ethereum Network Company with a focus on accumulating crypto for long-term investment, announced<\/a> its holdings had reached 4.2 million ETH tokens after acquiring 35,268 ETH, worth roughly $110 million, in the past week.<\/p>\n 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<\/a>.<\/p>\n 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 \u201cMoonshots\u201d initiative, and unencumbered cash worth $979 million.<\/p>\n After the latest purchase, BitMine now holds 3.48% of ETH\u2019s total supply, and nears its goal to control 5% of the leading altcoin\u2019s<\/a> 120.7 million supply. Notably, it has achieved nearly 70% if \u201cAlchemy of 5%\u201d target in just six months.<\/p>\n BitMine\u2019s chairman, Thomas \u201cTom\u201d Lee, stated that \u201cEthereum\u2019s 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.\u201d<\/p>\n As of January 19, 2026, BitMine\u2019s 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.<\/p>\n Despite BitMine\u2019s 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.<\/p>\n 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\u2019s short-term performance.<\/p>\n Analyst World of Charts affirmed<\/a> that there are two \u201csimple\u201d 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.<\/p>\n On the contrary, if the altcoin holds this zone in the daily timeframe and momentum builds, it could retest the range\u2019s upper boundary resistance again.<\/p>\n Amid the pullback, another pseudonym market observer also pointed<\/a> 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.<\/p>\nETH Price At Crucial Support Zone<\/h2>\n