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Bitmine: Adds 26K ETH as Strategy Sells BTC | Flash News Detail | Blockchain.News
Latest Update
6/1/2026 1:09:00 PM

Bitmine: Adds 26K ETH as Strategy Sells BTC

Bitmine: Adds 26K ETH as Strategy Sells BTC

Bitmine buys 26,497 ETH ($52.6M) to reach 5.42M tokens worth $10.75B while Strategy sells BTC, with ETH price at $1978.79 showing bearish 4h signals.

Source

Analysis

Bitmine bought 26,497 ETH for $52.6M last week and now holds 5,416,901 ETH valued at $10.75B even as Strategy offloads BTC. ETH price prediction models must account for the 4h chart where price sits at $1978.79 inside the Bollinger band with lower support at $1978.14 and upper resistance at $2046.35, EMA50 at $2040.81 acting as near-term resistance above the EMA200 at $2162.82, RSI at 34.99 in neutral territory, and MACD at -14.69 confirming a bearish death cross that points to further downside risk in any crypto market crash scenario while AI industry impact on adoption stays muted against these whale flows.


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