Ethereum Price Forecast: BitMine lifts holdings to 4.8 million ETH, says outperformance could extend

Ethereum price today: $2,140

• BitMine acquired 71,252 ETH last week, stretching its holdings to 4.8 million ETH.
• The firm's Chairman, Thomas Lee, noted that ETH's recent outperformance could attract more investors.
• ETH is reattempting to break its range-bound move following a retest of the 50-day EMA.

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) increased its stash of the top altcoin following another round of weekly acquisition.

The Las Vegas-based firm purchased 71,252 ETH last week, slightly higher than the previous week and its largest weekly purchase since December. As a result, BitMine now holds 4.803 million ETH, strengthening its position as the largest publicly traded Ethereum treasury.

From that figure, BitMine deployed an additional 191,994 ETH into staking contracts last week, bringing its total staked assets to 3.33 million ETH, which is 69% of its entire ETH stash. The firm said it's currently earning an annual staking yield of $196 million on these assets through its recently launched Made in America VAlidator Network (MAVAN).

According to BitMine Chairman Thomas Lee, ETH has been the second-best-performing asset since the US-Israel war with Iran began over the past six weeks, recording a 6.8% gain and outperforming the S&P 500 and Gold by 1,130 and 1,840 basis points, respectively.

"This is a great harbinger, as we expect ETH leadership to strengthen investors and eventually take cash off the sidelines," wrote Lee in a Monday statement. "Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains."

BitMine also holds a $200 million stake in Beast Industries, 198 Bitcoin (BTC), a $92 million stake in Eightco Holdings (ORBS) and total cash of $864 million.

Meanwhile, the company announced that its stock has been approved to uplist to the New York Stock Exchange (NYSE). It will stop trading on the NYSE American at the close of the market on Wednesday and launch on the NYSE on Thursday.

BitMine's share price is up 5% as of writing on Monday.

Ethereum Price Forecast: ETH attempts to break rangebound move, retests 50-day EMA

Ethereum has registered $84.5 million in liquidations over the past 24 hours, driven by $74.8 million in short liquidations as of writing, according to Coinglass data.

In the daily chart, ETH trades at $2,140. The near-term bias is neutral with a mild bullish tilt as price holds above the 20-day Exponential Moving Average (EMA) near $2,085 and regains traction after last week's pullback. The 50-day EMA around $2,145 caps immediate upside, keeping spot compressed between the short- and medium-term trend references.

The Relative Strength Index (RSI) at 53 stays above the midline, while the Stochastic Oscillator (Stoch) advances toward overbought territory, signaling rebuilding upside momentum but without a clear breakout trigger yet.

Initial support emerges at the nearby horizontal level around $2,108, reinforced by the 20-day EMA beneath it. A break below would expose the $1,911 level, followed by the key support at $1,741. Deeper losses from that area would open the way toward $1,520 and then $1,405 as broader downside levels.

On the topside, immediate resistance stands at $2,389, with a daily close above that barrier needed to re-energize the up-move toward $2,746.

(The technical analysis of this story was written with the help of an AI tool.)