Crypto

BitMine Fuels Ethereum Price Rally with Fresh ETH Purchase

Guavy AI Editorial Team Published August 4, 2026

Instruments

ETH

BitMine, a company known for its large Ethereum holdings, has made another significant purchase of 10,399 ETH. This latest acquisition brings BitMine's total holdings close to 5.8 million Ethereum, with approximately 85% staked and earning staking rewards.

The company now owns about 4.8% of Ethereum's total supply, and needs only another 237,187 ETH to reach its goal of holding 5% of all Ethereum in circulation. BitMine expects its staked ETH to bring in around $291 million in annual staking rewards.

BlackRock has also entered the Ethereum market by launching two tokenized money market funds on the network. These funds invest in cash, short-term US Treasury securities, and overnight repurchase agreements backed by Treasuries.

Ethereum price remains above $1,850, with some market commentators predicting a potential move to $2,000 if the current support level holds.

BitMine Fuels Ethereum Price Rally with Fresh ETH Purchase

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