BitMine's 12,535 ETH Purchase Pushes Holdings to 6M as Ethereum Trades Below $2,500
Ethereum remains under pressure near $2,500 as BitMine Immersion Technologies expands its Ethereum holdings to 6.04 million tokens.
Ethereum remains under pressure near $2,500 as BitMine Immersion Technologies expands its Ethereum holdings to 6.04 million tokens. Ethereum (ETH) is trading at ₹2,28,339 ($2,398.90), up 0.2% since this brief published. This is an original Token Times brief synthesising 2 outlets (TronWeekly, CryptoPotato), plus live market data, as of Mon, 19 Oct 2026 21:00:02 UTC.
BitMine's accumulation of 12,535 ETH brings its holdings close to 5% of Ethereum's total supply, potentially influencing market dynamics and investor sentiment. The purchase comes amid broader market uncertainty linked to risk asset selloffs.
- BitMine adds 12,535 ETH, increasing holdings to 6.04 million tokens.
- Ethereum faces resistance at $2,545 with support around $2,300.
- Market weakness tied to broader risk asset selloffs, according to Tom Lee.
TronWeekly and CryptoPotato both report that Ethereum is trading below the $2,500 mark, with TronWeekly specifying the resistance level at $2,545 and support near $2,300. TronWeekly focuses on BitMine's accumulation of 12,535 ETH, bringing its total to 6.04 million tokens, while CryptoPotato emphasizes the broader market context, citing Tom Lee's view that crypto's recent weakness is part of a larger selloff in risk assets like AI stocks and Asian markets. Both outlets agree on the general price trend and market conditions but differ in their emphasis on specific factors influencing the price.
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- Justin Sun Offloads 80-90% of Ethereum Holdings for US Stocks
- Bitmine Increases Ethereum Holdings to 6.04 Million ETH Amidst Market Slump
- Bitmine's Total Holdings Value Drops Despite Rising Ether Reserves
- BitMine's 12,535 ETH Purchase Pushes Holdings to 6M as Ethereum Trades Below $2,500 — this brief
Ethereum has been trading below the $2,500 mark, facing resistance around $2,545 and finding support near $2,300, according to TronWeekly. The cryptocurrency's price movement comes as BitMine Immersion Technologies continues to expand its Ethereum holdings, adding 12,535 ETH to reach a total of 6.04 million tokens.
The purchase by BitMine, which now holds nearly 5% of Ethereum's total supply, could have significant implications for market dynamics and investor sentiment. This accumulation strategy suggests confidence in Ethereum's long-term value, despite the current market conditions.
CryptoPotato reports that the broader market weakness is part of a larger trend, as investors pull back from risk assets. Tom Lee, a prominent market analyst, attributes this to selloffs in AI stocks and Asian markets, indicating a more cautious investor sentiment across riskier asset classes.
The total cryptocurrency market cap stands at $2.8 trillion, with the overall market showing a broad uptrend. 
Bitcoin, the largest cryptocurrency by market cap, has gained 1.19% in the last 24 hours. The Fear & Greed Index is at 59, indicating a 'Greed' sentiment among investors.
Ethereum itself is currently priced at $2,394.3, up 2.45% in the last 24 hours but down 4.78% over the past week. Its market cap is $292.43 billion. The combination of BitMine's accumulation and broader market trends suggests potential near-term volatility for Ethereum.
Since this brief published about 2 hours ago, Ethereum (ETH) has moved from ₹2,27,901.24$2,394.30 to ₹2,28,339.09$2,398.90 — +0.19%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₹248,993.83 (about $2,398.90), up 2.1% over 24 hours. The rupee itself trades about 9.0% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
BitMine's 12,535 ETH Purchase Pushes Holdings to 6M as E — questions & answers
What is BitMine's total Ethereum holdings after the purchase?
BitMine now holds 6.04 million ETH after purchasing 12,535 tokens.
What are the key resistance and support levels for Ethereum?
Ethereum faces resistance at $2,545 and support around $2,300.
Why is the crypto market experiencing weakness?
The weakness is attributed to broader selloffs in risk assets like AI stocks and Asian markets.
How much is 1 Ethereum worth in rupee today?
About ₹248,993.83 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $2,398.90. The rupee price moves with both ETH's US-dollar price and the USDT/INR rate; use our Ethereum in rupee page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is up 0.19% since this brief first published — trading at ₹2,28,339 ($2,398.90) now versus ₹2,27,901 ($2,394.30) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from TronWeekly, CryptoPotato, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.