Bitmine Ethereum News: Tom Lee Goes on Huge ETH Spending Spree

In Bitmine Ethereum news, ETH USD is holding a fragile line, trading at $2,260 as of April 24, down -2.2% in 24 hours. Meanwhile, Bitmine just made a move that has the entire digital asset treasury space paying attention.

Bitmine Immersion Technologies (BMNR), chaired by veteran market strategist Tom Lee, disclosed that it purchased 101,901 ETH last week, bringing its total holdings to 5,078,386 ETH, approximately 4.21% of the circulating supply.

The firm reached that milestone in roughly 10 months after pivoting from bitcoin mining to an ETH treasury strategy in June 2024. Total crypto and cash holdings now stand at $13.3Bn, with about 3.7 million staked tokens generating an estimated $264M in annualized revenue.

“This is a major milestone,” Lee said, “as the company moves towards acquiring 5% of the ETH supply.” The purchase lands at a complicated moment for ETH price action, one that deserves a closer look before drawing conclusions.

(SOURCE: TradingView)

Bitmine Ethereum News: Can Ethereum Price Hold $2,176 Support Before the Next Move?

ETH closed at $2,328.51 on April 23 before slipping further to $2,322.61 on April 24, placing the price squarely below near-term resistance at $2,350–$2,360, a swing high the bulls haven’t convincingly reclaimed. The monthly picture is less grim: ETH bounced off a $2,000 low to post an 8.09% monthly gain, suggesting structural support still exists along a multi-year ascending trendline dating back to 2019.

The technicals, though, lean cautiously. Phemex analysis flags a MACD reading of -84.58, firmly negative, while the Connors RSI sits at an oversold 26.51, a reading that often precedes bounces but can also reflect sustained selling pressure rather than genuine accumulation. Price remains below both the 10-day EMA ($2,586) and 10-day MA ($2,661), keeping the short-term trend technically bearish.

Three scenarios are in play. Bull case: ETH holds $2,176 (the 24-hour demand zone), reclaims $2,350–$2,360, and targets the $2,586 EMA with momentum recovery. Base case: price churns between $2,176 and $2,350 through the week as the market digests the Bitmine Ethereum accumulation signal against soft macro sentiment.

Bear case: a clean break below $2,106 (the April 13 session low) reopens the $2,000 psychological level, prediction markets currently price ETH below $2,320 by April 28 at 96¢ probability, which is not a number to ignore.

Year-over-Year, ETH USD is still up ~31.2% from $1,770.33, a reminder that short-term pressure doesn’t erase the longer-term trend.

DISCOVER: Next Crypto to Explode in 2026

Bitcoin Hyper Targets Early Mover Upside as Ethereum Tests Key Levels

When a benchmark asset like ETH trades below its key moving averages and has a negative MACD, capital doesn’t sit still; it rotates. The question is where it goes. Established large-caps offer limited percentage upside at current market caps; early-stage infrastructure plays offer a different risk profile entirely.

Bitcoin Hyper ($HYPER) is positioning itself at exactly that intersection. The project is building what it claims is the first-ever Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, targeting sub-Solana latency on top of Bitcoin’s security layer.

That combination addresses Bitcoin’s core limitations: slow transactions, high fees, and near-zero programmability. The presale has raised $32.5M at a current price of $0.0136792, with staking available for early participants.

Social traction has been building steadily as Layer 2 narratives gain momentum in a volatile 2026 market. A Decentralized Canonical Bridge for BTC transfers and high-speed smart contract execution rounds out the core feature set.

Visit the Bitcoin Hyper Presale Website Here.

EXPLORE: Best Meme Coins to Buy in April

This article is not financial advice. Crypto assets are highly volatile. Always conduct your own research before investing.

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