Ethereum News Today: BitMine Vaults as Top Global Ethereum Holder, Closes in on 5% Supply Target

Ethereum (ETH) continued its recovery above $4,200 as BitMine Immersion Technologies expanded its treasury holdings by acquiring 202,037 ETH during the recent market downturn, pushing its total Ethereum stash to 3.03 million tokens, or 2.5% of the circulating supply Ethereum Price Forecast: ETH continues recovery as BitMine expands treasury by 202K ETH^[1]. The purchase, executed at an average price of $4,154 per ETH, reflects BitMine's aggressive strategy to reach 5% ownership of Ethereum's total supply, a target it now considers more than halfway achieved . BitMine Chairman Thomas Lee emphasized that the firm capitalized on the volatility-driven price decline, which he described as creating "substantial discount to the future" for investors Ethereum Price Forecast: ETH continues recovery as BitMine expands treasury by 202K ETH^[1].

The firm's Ethereum holdings now exceed those of its closest competitor, SharpLink Gaming, by over 3.5x, solidifying BitMine's position as the largest corporate Ethereum treasury globally Ethereum Price Forecast: ETH continues recovery as BitMine expands treasury by 202K ETH^[1]. BitMine's total crypto and cash holdings reached $13.4 billion, including 192 Bitcoin (BTC) and $104 million in unencumbered cash . Institutional confidence in Ethereum's long-term prospects is underscored by BitMine's strategy, which aligns with broader market trends such as the integration of artificial intelligence (AI) and blockchain technology .

ETH's price trajectory remains a focal point for analysts. The token currently faces resistance near $4,270, having rebounded from the $4,100–$4,000 support range Ethereum Price Forecast: ETH continues recovery as BitMine expands treasury by 202K ETH^[1]. Technical indicators suggest mixed signals: the Relative Strength Index (RSI) is trending upward toward neutral levels, while the Moving Average Convergence Divergence (MACD) shows receding red histogram bars, indicating potential bullish momentum if key levels hold Ethereum Price Forecast: ETH continues recovery as BitMine expands treasury by 202K ETH^[1]. Some analysts project ETH could reach $4,300 by year-end, citing historical October gains and a 47% surge in decentralized exchange (DEX) volume to $33.9 billion Ethereum Price Prediction October 2025: ETH Targets $4,300 as Exchange Supply Hits 9-Year Low^[3].

Standard Chartered raised its 2025 ETH price target to $7,500, attributing the optimism to record ETF inflows and stablecoin growth following the GENIUS Act Ethereum Price Prediction October 2025: ETH Targets $4,300 as Exchange Supply Hits 9-Year Low^[3]. However, BitMine's chairman, Tom Lee, expressed a more bullish outlook, predicting ETH could surpass $15,000 by year-end if institutional adoption and AI-driven blockchain applications accelerate .

BitMine's stock (BMNR) has also drawn attention, ranking as the 22nd most traded U.S. stock with an average daily trading volume of $3.5 billion as of October 10 . Despite a recent 11% decline over five days, the firm's stock has attracted institutional investors, including ARK Invest and Founders Fund, which collectively back its Ethereum accumulation strategy .

The market's short-term volatility remains a concern. Ethereum briefly dipped to $3,500 during a flash crash triggered by U.S.-China trade tensions, though it has since stabilized above $4,200 Ethereum Price Forecast: ETH continues recovery as BitMine expands treasury by 202K ETH^[1]. Analysts warn that further declines could test support at $4,250 or the 61.8% Fibonacci retracement level at $3,593 .