NewsBTC
Jan 21, 2026
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BitMine Increases Ethereum Holdings to 3.48% Amid ETH Price Drop

BitMine has increased its Ethereum [ETH](https://holder.io/coins/eth/) holdings, adding $110 million worth of ETH to its treasury. The company now holds 4.2 million ETH tokens, representing 3.48% of the total ETH supply. BitMine aims to control 5% of ETH's 120.7 million supply.

  • BitMine is the largest Ethereum Treasury company globally, holding $14.5 billion in crypto and cash.
  • The company's portfolio includes 193 [Bitcoin](https://holder.io/coins/btc/), a $22 million stake in Eightco Holdings, and $979 million in cash.
  • ETH holdings increased by 581,920 ETH this week, with total staked ETH reaching 1,838,003, valued at $5.9 billion.
  • Chairman Thomas Lee noted ETHBTC's upward trend, reflecting Ethereum's growing use cases.

Ethereum's price recently fell below $3,000, experiencing a 6.8% decline and testing a critical support zone. Analysts suggest:

  • If ETH falls below $3,000, it may retest $2,600 lows.
  • Holding above $3,000 could lead to a retest of upper resistance levels.
  • ETH is currently near its 50-day Moving Average ($3,089). Holding this level could signal a move towards the 200-day MA ($3,650).

As of now, ETH trades at $2,999, marking a 7% weekly decline.

Ethereum, eth, ethusdt