Bitmine buys $137M in ETH as price reclaims $2,150
Bitmine buys 65,341 ETH for $137M as ETH reclaims $2,150
Bitmine grew its ETH stack by 65,341 tokens last week. ETH bounced back above $2,150.
The firm said it kept accelerating purchases for a third week, lifting weekly buys above its recent 45k–50k pace (PR).
- Total crypto and cash now $11B (PR)
- Holds 4,660,903 ETH and 196 BTC (PR)
- Moonshots: $200M in Beast Industries, $95M in Eightco (PR)
- Cash on hand $1.1B (PR)
- Staked ETH 3,142,643, worth ~$6.5B at $2,072 NewsBTC
Chairman Tom Lee said Bitmine sees ETH in the “final stages of the mini-crypto winter” and called crypto a “good wartime store of value,” citing ETH’s recent outperformance of equities (PR).
Price action turned higher. ETH jumped ~8% off $2,000 and reclaimed $2,150 NewsBTC.
Analyst Ali Martinez sees a structural shift. He tracks an ascending triangle on the weekly chart, with a potential path toward $10,000 if it breaks out X. He adds MVRV dipped below 0.8 at the recent lows, a level he calls a “generational buy zone” X. His SuperTrend model flipped from Sell to Buy for the first time since May NewsBTC.
Martinez says a sustained move above $2,350 would signal exit from accumulation. He views pullbacks to $1,800–$2,000 as opportunities while $1,800 holds X.
