As the Ethereum (ETH) price retests a crucial support zone, BitMine revealed it has added another $110 million worth of ETH to its treasury holdings over the past week, approaching an important milestone for the company’s investment strategy.

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BitMine’s Ethereum Bet Continues

On Tuesday, BitMine, a Bitcoin and Ethereum Network Company with a focus on accumulating crypto for long-term investment, announced its holdings had reached 4.2 million ETH tokens after acquiring 35,268 ETH, worth roughly $110 million, in the past week.

As a result, the company, which is the largest Ethereum Treasury company in the world and the second-largest global treasury, has crypto and cash holdings totaling $14.5 billion at current prices.

According to the announcement, the company now owns 4,203,036 ETH at $3,211, 193 Bitcoin (BTC), a $22 million stake in Eightco Holdings as part of its “Moonshots” initiative, and unencumbered cash worth $979 million.

After the latest purchase, BitMine now holds 3.48% of ETH’s total supply, and nears its goal to control 5% of the leading altcoin’s 120.7 million supply. Notably, it has achieved nearly 70% if “Alchemy of 5%” target in just six months.

BitMine’s chairman, Thomas “Tom” Lee, stated that “Ethereum’s price ratio to Bitcoin, or ETHBTC, has been steadily climbing since mid-October. In our view, this reflects investors recognizing tokenization and other use cases being developed by Wall Street are being built on Ethereum.”

As of January 19, 2026, BitMine’s total staked ETH stands at 1,838,003, worth $5.9 billion at $3,211 per ETH, an increase of 581,920 ETH in the past week.

ETH Price At Crucial Support Zone

Despite BitMine’s constant bet on the cryptocurrency, Ethereum retraced nearly all its 2026 gains after falling below the $3,000 barrier. On Tuesday, ETH recorded a 6.8% decline in the daily timeframe, dropping from the $3,200 area to a three-week low of $2,980.

The King of altcoins has been trading between the $2,600-$3,350 area since the November pullbacks, reclaiming the upper zone of this range during the start of the year rally. Now, ETH is retesting an important multi-support area that could define the cryptocurrency’s short-term performance.

Analyst World of Charts affirmed that there are two “simple” possibilities for Ethereum. If the price loses the $3,000 area, which serves as the mid-zone of its local range and a key macro support and resistance level, then a retest of the $2,600 lows becomes likely.

On the contrary, if the altcoin holds this zone in the daily timeframe and momentum builds, it could retest the range’s upper boundary resistance again.

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Amid the pullback, another pseudonym market observer also pointed out that ETH is currently retesting its 50-day Moving Average (MA), which was reclaimed at the start of the year and currently sits at the $3,089 level.

According to the post, if the 50-day MA holds, a move to the 200-day MA, located around the $3,650 area, could come next. “All eyes [are] on a close above the 50-day MA, which will point to a successful back test,” he added.

As of this writing, ETH is trading at $2,999, a 7% decline in the weekly timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

KULR Technology Group Inc. has reported an expansion to its Bitcoin Treasury, adding an additional $21m through acquisitions. This takes the company’s Bitcoin holding value to $42 million. The purchases were done at an average price of $98,393.58 per Bitcoin inclusive of fees and expenses.

KULR Adds $21M In BTC, Achieves 93.7% BTC Yield With Bitcoin Treasury Strategy

KULR has added another $21 million worth of Bitcoin to its Bitcoin Treasury. This takes its Bitcoin buys to $42m, in line with the firm’s policy of putting up to 90% of excess cash into Bitcoin. The purchases were made with the use of cash balances and the company’s At-The-Market (ATM) equity offering programme.

The company introduced BTC Yield as a key performance indicator to track the growth of Bitcoin holdings per share. From its initial purchases in December 2024 to January 2025, KULR achieved a BTC Yield of 93.7%. This metric evaluates the increase in Bitcoin holdings relative to its fully diluted shares, offering investors an innovative transparency tool.

As more institutions invested in BTC, MicroStrategy bought 1,070 BTC for $101 million at an average of $94,004 per BTC in its ninth purchase in nine weeks. The company now owns 447,470 BTC bought for $27.97 billion which makes it the largest publicly traded bitcoin holder.

Bitcoin Strategy and Investor Considerations

KULR Bitcoin Treasury strategy focuses on increasing shareholder value through disciplined financial management. BTC Yield serves as a supplementary indicator, providing insights into the company’s Bitcoin acquisition growth. However, this metric does not reflect operating performance or stock price predictions. Investors review KULR’s financial statements and SEC filings for a comprehensive understanding of its financial position.

Despite the volatility of BTC price, KULR remains committed to its strategy, viewing Bitcoin as a core component of its treasury program. This approach aligns with its long-term vision to diversify its asset holdings and leverage Bitcoin potential as a store of value.

These developments come amid Bitcoin price reclaiming the $100,000 mark, fueled by a weakening US dollar. The US Dollar Index (DXY) has entered a demand zone, boosting bullish sentiment in the cryptocurrency market. Analysts predict this breakout could drive sustained momentum for Bitcoin, propelling it to uncharted price levels. This recovery highlights a growing interest in BTC as a store of value.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.