Bitmine adds 12,535 ETH as Ethereum price stays below $2,500

Bitmine Immersion Technologies has raised its Ethereum holdings to 6.04 million ETH after buying another 12,535 tokens, even as Ethereum struggles to recover above $2,500 following its recent market decline. Summary Bitmine increased its Ethereum holdings to 6.04 million ETH after purchasing another 12,535 tokens during the week. The company reported $15.1 billion in combined holdings, including cryptocurrency, cash, securities and strategic investments. Ethereum traded near $2,422 despite a modest daily recovery, with prices down approximately 4.8% weekly overall. Bitmine has staked 5.07 million ETH, representing nearly 84% of its reported Ethereum treasury holdings currently. Ethereum faces resistance near $2,545, while technical indicators place immediate downside support around $2,300 per token. According to the company’s October 19 announcement, its combined cryptocurrency, cash, marketable securities and strategic investments were valued at approximately $15.1 billion as of October 18. The NYSE-listed company reported owning 6,041,481 ETH, representing approximately 4.9% of Ethereum’s stated 122.1 million-token supply. Bitmine chairman Tom Lee said the company has continued p...