Ethereum
Bitmine expands Ethereum holdings to 4.3 million tokens amid downturn
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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.
The Ethereum Foundation has formed a dedicated Post-Quantum team to address emerging threats from quantum computing. Led by Thomas Coratger, the initiative focuses on upgrading the network's cryptographic foundations before potential risks materialize. This move reflects a broader shift in the blockchain ecosystem toward proactive defenses.
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Bitcoin plunged below $80,000 on January 31, 2026, as a weekend crypto market crash erased over $220 billion in value, driven by geopolitical tensions and massive liquidations. Ethereum and XRP led losses, with prices falling sharply amid thin liquidity and reports of Israeli strikes in Gaza and an explosion at Iran's Bandar Abbas port. Traders attribute the downturn to a combination of global risks, U.S. political uncertainty, and forced selling in derivatives markets.
Bitcoin reached a two-month high above $97,000 on Wednesday, leading a broader cryptocurrency rally fueled by positive economic data and advancing pro-crypto legislation. The surge liquidated nearly $700 million in short positions, rejuvenating market risk appetite. Analysts suggest the rally has potential to continue higher.
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Standard Chartered predicts Ethereum will reach $40,000 by 2030, outperforming Bitcoin due to growing onchain finance adoption. The bank's research highlights Ethereum's advantages in tokenisation and stablecoins over Bitcoin's limitations. This outlook comes amid recent adjustments to shorter-term price targets for the cryptocurrency.
Bitmine Immersion Technologies has revealed its ethereum holdings have climbed to 4,143,502 tokens, representing 3.43% of the total supply. The company's total crypto and cash assets now stand at $14.2 billion, including staked ethereum and other investments. This update comes ahead of its annual stockholder meeting in Las Vegas.
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Fundstrat Global Advisors co-founder Tom Lee predicts Bitcoin will hit a new all-time high by the end of January 2026, building on models estimating a 70% chance sometime this year. He foresees a volatile 2026 with challenges in the first half but a strong second-half recovery, plus major Ethereum upside.
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