Crypto Market
Bitmine expands Ethereum holdings to 4.3 million tokens amid downturn
Reported by AI Image generated by AI
Bitmine Immersion Technologies announced on February 2, 2026, that its Ethereum holdings have reached 4.285 million tokens, representing 3.55% of the total supply, as the cryptocurrency market faces a sharp decline. The company reported total crypto, cash, and investment holdings of $10.7 billion, including staked Ethereum generating significant annual rewards. Executive Chairman Tom Lee described the current price pullback as an attractive buying opportunity despite $6.6 billion in paper losses.
Bitcoin has declined about 40% from its October peak of $126,000, entering technical bear market territory amid heavy selling pressure. The cryptocurrency rebounded slightly to around $79,000 on February 2, 2026, but remains down over 10% for the week following $2.2 billion in liquidations. Analysts point to historical support levels near $58,000 as a potential bottom.
Reported by AI
Large bitcoin holders, known as whales, are accumulating the cryptocurrency amid a recent price decline, while smaller retail investors are rushing to sell. On-chain data from Glassnode reveals this stark divide in market behavior. Bitcoin's price has fallen to around $78,000 after consolidating between $80,000 and $97,000 since late November.