ethcorporatereserves

Last week, BitMine bought 69,822 ETH, bringing its total to 3.63 million ETH.
The business aims to start staking its assets in early 2026.
After bouncing back from the $2,850 support level, ETH is under pressure at $3,000.
Last week, BitMine Immersion Technologies, a business that manages Ethereum's treasury, bought more ETH.
According to a statement on Monday, the company that is listed on the Nasdaq bought 69,822 ETH, bringing its total holdings to 3.63 million ETH. The number is 3% of all ETH in circulation, which brings BitMine closer to its initial objective of controlling 5% of Ethereum's supply.
The company in Nevada also has 192 Bitcoin (BTC), a $38 million holding in the Worldcoin (WLD) treasury, Eightco Holdings, and $800 million in cash that wasn't tied up.
The value of all of its assets has dropped to $11.2 billion since the prices of cryptocurrencies have been going down over the previous several weeks. According to CryptoQuant statistics, the company's ETH treasury is holding an unrealized loss of more than $3.4 billion.
BitMine Chairman Thomas Lee stated, "The continued drop in crypto prices over the past week shows that liquidity has been low since October 10th and that price technicals are still weak." "A few weeks ago, we said that the likely downside for ETH prices would be around $2,500, and current ETH prices are pretty much there. This means that the risk/reward is not equal because the downside is 5% to 7%, while the upside is the supercycle ahead for Ethereum."
BitMine said that in 2026 it would start staking its ETH holdings using the Made in America Validator Network (MAVAN), which it says will be the "best in class solution offering staking infrastructure."
This kind of action might help it raise the average cost basis of its ETH holdings.
BitMine says it is the 50th most traded stock in the US, with an average trading volume of $1.6 billion, which is less than Mastercard and more than Palo Alto Networks.
According to the SER statistics, the corporation still has the most Ethereum in the world, followed by SharpLink Gaming and The Ether Machine, which have 859,395 ETH and 496,712 ETH, respectively.
BitMine shares were up 19.6% on Monday, bringing their monthly drop down to 42.1%.
According to Coinglass statistics, Ethereum saw $74 million in liquidations in the last 24 hours, with $53.17 million of it coming from short liquidations.
After falling below $2,850 last weekend, ETH has bounced back to that level. The recovery shows that whales and accumulating addresses protected their average cost base, which is between $2,800 and $2,900.
ETH is still under pressure, however, since it seems like it is rejecting after hitting the $3,000 psychological mark. The $3,100 level, which is supported by the 20-day Exponential Moving Average (EMA), is another important resistance level.
The top cryptocurrency might drop below $2,300 if the $2,850 support doesn't hold again, which would be bad.
The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) have bounced back from being oversold, but they are still below their neutral levels. This means that the negative momentum is slowly going down.
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