Ethereum News: Tom Lee-Backed Bitmine Buys Another $95M in ETH

Key Insights:

• Ethereum news: Tom Lee’s Bitmine just snapped up $95 million worth of ETH.
• As the latest Ethereum news came in, ETH price marked a recovery.
• However, BMNR stock lost some value despite the positive news.

Bitmine Immersion Technologies Inc. just boosted its crypto holdings by snapping up another 45,000 ETH worth roughly $95 million, according to today’s Ethereum news. Tom Lee-backed Bitmine has spent the past year aggressively piling into ETH.

Ethereum News: Bitmine Acquires More ETH Amid Staking Initiative

The company kicked off what looks like a mission to lock down 5% of the total Ethereum supply. It’s playing a game of ETH accumulation that most other firms haven’t dared.

According to Arkham Intelligence data, the firm made Ethereum news headlines by adding 45,000 ETH, valued at $95.3 million, on Wednesday, April 1. It involved two transactions that involved: 20,000 ETH worth $42.36 million and $25,000 ETH, equivalent to $52.94 million.

Even as ETH price has been sliding from the $3,000s down to the $2,100s, Bitmine isn’t slowing down. Institutional investors have kept accumulating, and Bitmine sits right at the center of this trend. It’s not just buying ETH but also staking huge amounts.

Bitmine’s Ethereum Staking Activity Gains Momentum

In another Ethereum news update, Bitmine staked another 167,578 ETH worth about $340 million on March 31. The move pushed its total staking reserve to over 3.3 million ETH. That’s nearly $7 billion in ETH locked into Ethereum’s proof-of-stake network.

What makes it interesting is that staked ETH isn’t available for quick sale. Once it’s locked up with validators, you can’t just pull it out during market swings. It has major implications for liquidity as tokens committed to staking exit the tradable supply, so sell-side pressure drops. If a market shock hits, it takes time to get staked coins back into circulation.

Since the start of 2026, Bitmine has shifted into high gear. March didn’t lag, with the firm scooping up more than 71,179 ETH worth $142 million in the last week. Altogether, Bitmine now holds around 4.7 million ETH, valued at over $9.5 billion. That’s about 3.9% of the entire Ethereum supply, inching closer to the 5% target it set out.

Backing Bitmine are some serious names: ARK Invest, Founders Fund, Pantera, and Galaxy Digital. This group of investors is clearly banking on Bitmine’s strategy to pay off as Ethereum matures.

BMNR Stock & Ethereum Price Update

While all this is happening, Bitmine’s BMNR stock took a slight hit. dropping 0.51% to $19.68 during the latest session. The dip came despite the Ethereum news around the company’s accumulation.

Meanwhile, the Ethereum price action tells an interesting story right now. It’s been bouncing around between $2,000 and $2,100, not veering too far from levels traders have been watching closely for weeks. At the moment, ETH hangs just above $2,100 as it tests the $2,150 resistance.

Recently, sellers kept stepping in, causing short-term dips. Still, every time ETH price drifts closer to $2,000, buyers take control, and the level now acts as a critical psychosocial support. Previously, Ethereum price made a comeback after dipping below $1,900 in March.

However, ETH price is stuck in a pretty tight range between $1,900 and $2,200. The sideways pattern reflects a market that’s holding its breath, with traders waiting for a reason to break out in either direction.

The technical chart shows tough resistance between $2,100 and $2,150. If cleared, ETH price could soar higher, possibly breaking out from the $2,200 level. On the flip side, $2,000 remains the key support. In case ETH breaks down from this support, another dip below $1,900 could ensue.