Ethereum ETH treasury company BitMine Immersion Technologies added 10,452 ETH to its holdings last week, extending a buying streak that began in June 2025.
The purchase brought the Las Vegas-based firm’s holdings to approximately 6.051 million ETH, worth $14.01 billion. That represents about 4.95% of Ethereum’s estimated 122.2 million circulating supply.
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BitMine provided its latest holdings update for October 26, 2026$15.0 billion in total crypto + "moonshots":
– 6,051,933 ETH at $2,356 per ETH (per @coinbase)
– 215 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $76 million stake in Eightco Holdings…— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) October 26, 2026
BitMine is roughly 0.05 percentage points away from its goal of acquiring 5% of circulating ETH. The company has said it will stop accumulating the asset after reaching that target.
Based on its buying pace over the previous month, BitMine could reach the goal in approximately five to six weeks. The timing would depend on future purchases and changes in Ethereum’s circulating supply.
Staking position and share buybacks expand
BitMine also increased the amount of ETH it has staked, adding approximately 162,000 tokens last week.
Its total staked position reached 5.227 million ETH, with annualized staking revenue estimated at $318 million. That figure is an estimate rather than guaranteed future income and can change with staking rewards and ETH’s price.
The company repurchased 2.04 million of its own shares during the week at an average price of $22.48 each.
That brought its 2026 share buybacks to 22.9 million shares at an aggregate cost of $399.6 million.
BitMine Chairman Thomas Lee attributed the recent weakness in crypto partly to the same risk-off forces weighing on AI-related stocks.
He argued that cryptocurrencies have held up better than semiconductor shares during the latest pullback.
“In contrast to late-2025 and early 2026, crypto pullbacks have been comparatively shallow. ETH has fallen 13% from its recent peak while US semiconductors (SOXX) are down 20% in that same timeframe. We believe this is further evidence that a crypto bull market is underway,” Lee said.
Other market data, however, points to continued selling pressure. US spot Ethereum ETFs recorded a fourth consecutive week of net outflows totaling $220.61 million, according to SoSoValue.
The outflows continued on Monday, with $88.58 million withdrawn from the funds on Monday.
Blockchain analytics account Lookonchain also reported that BitMEX co-founder Arthur Hayes sold several altcoins over the weekend, including approximately 6,400 ETH.
Ethereum technical outlook: ETH loses $2,355 support
Ethereum’s technical picture weakened over the weekend as the price closed below its 100-day Exponential Moving Average and the $2,355 horizontal level.
The $2,355 area had provided support over the preceding two weeks. It now becomes an important level for buyers to reclaim.
ETH also faces a test of its 200-day EMA. A daily close below that average would leave the asset beneath all four key moving averages cited in the analysis and further weaken its near-term structure.
CoinGlass data showed $22.99 million in ETH liquidation s over the previous 24 hours. Long positions accounted for approximately $12 million of that total, indicating that traders betting on higher prices bore most of the losses.
The 14-day Relative Strength Index stands at 33, close to the conventional oversold threshold of 30. The Stochastic Oscillator is at 14, also near oversold territory.
The readings suggest that selling momentum may be stretched, but they do not yet confirm a reversal.
If ETH continues lower, the next support levels are $2,256, $2,096, and $1,971. On the upside, buyers must first recover $2,355 before confronting resistance at the 100-day, 20-day and 50-day EMAs.
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