Ethereum treasury company Bitmine Immersion Technologies (BMNR) continued its aggressive accumulation strategy last week, adding 42,197 $ETH It is close to controlling 5% of Ethereum’s circulating supply, impacting its balance sheet.
With this acquisition, the total number of BitMine shares held is 5.74 million shares. $ETHwhich is worth about $10.3 billion at current market prices.
However, Ethereum has underperformed over the past 24 hours and risks falling below $1,700 in the short term.
BitMine approaches 5% Ethereum ownership goal
According to blockchain analytics platform Arcam, Bitmine currently owns about 4.75% of Ethereum’s circulating supply.
Tom Lee’s Bitmine bought ~$75M of ETH over the past week.
They now own $10.3 Billion of ETH – representing roughly 4.75% of the total supply.
Tom Lee has $527M of cash, and needs to buy $523.7M of ETH in order to reach 5%.
— Arkham (@arkham) July 6, 2026
Based on current market prices, the company should acquire approximately $523.7 million worth of stock. $ETH In order to achieve the publicly stated goal of owning 5% of all Ether in circulation.
With approximately $527 million in cash and marketable securities on its balance sheet, BitMine appears to have enough liquidity to reach that milestone if it chooses to continue with its purchases.
While Ethereum remains at the center of its financial strategy, Bitmine has also revealed several other digital asset investments.
Its holdings include 206 Bitcoin (BTC), a $180 million investment in Beast Industries, $71 million in Worldcoin Treasury stock, an investment in Eightco Holdings (ORBS), and approximately $527 million in cash and marketable securities.
The diversified portfolio reflects BitMine’s broad exposure to the digital asset ecosystem beyond just Ethereum.
BitMine Chairman Thomas Lee noted that there is growing optimism surrounding US crypto regulation, following growing expectations that the Clarity Act could move forward.
Lee said a clearer regulatory framework could help accelerate the mainstream adoption of blockchain technology, especially smart contract platforms like Ethereum.
He believes regulatory certainty will play an important role when integrating cryptocurrencies into everyday financial services and enterprise applications.
Lee previously said that BitMine’s staking income is more than enough to cover its dividend commitments.
According to the company, BitMine has staked approximately $4.87 million. $ETHhas become the world’s largest Ethereum staking participant.
These staking assets generate an estimated $235 million in annual staking revenue, providing a recurring revenue stream to support corporate obligations.
Ethereum price prediction: $ETH Facing major resistance near $1,807
of $ETHThe /USD 4-hour chart is bullish and efficient despite falling just below $1,800.
Ethereum is looking to build on its recent recovery, but continues to face significant technical resistance just above current price levels.
On the 4 hour chart, $ETH It remains below the 50-day exponential moving average (EMA) of $1,807 and the 100-day EMA of $1,970.
Trading below these long-term moving averages suggests that the overall trend remains cautious despite the recent rally.
Meanwhile, Ethereum remains above the 20-day EMA at $1,714. This level is helping sustain short-term bullish momentum.
Technical indicators indicate different situations.
The Relative Strength Index (RSI) has risen to around 56, indicating that buying momentum is improving, although it is not yet in overbought territory.
However, the stochastic oscillator is hovering around 90, suggesting that Ethereum may be nearing short-term depletion after the recent rally, increasing the possibility of consolidation or a temporary decline.
If buyers maintain momentum, Ethereum could test the first major resistance level at $1,807, which coincides with the 50-day EMA.
When the daily candlestick closing price exceeds this level, $ETH Extending the rally towards the major resistance zones of $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 are likely to keep an eye on the support at $1,741.
If we cannot maintain this level, $ETH It falls towards the 20-day EMA of $1,714, with another demand zone at $1,524.
A break above the $1,714-$1,741 support zone would help sustain Ethereum’s current recovery structure, but a break below these levels could reveal a deeper downside objective.
