Investment in altcoins represents a significant move in the cryptocurrency market, and institutional interest in these assets can lead to substantial outcomes. At the time of reporting, Bitcoin 
$78,680 was priced at $86,000, while altcoins were experiencing losses exceeding 5%. Despite these negative trends, BitMine has announced another substantial acquisition.
Reaching 4 Million ETH Reserve
In its latest announcement, BitMine revealed that its reserve has almost reached a size of 4 million Ether (ETH). Following Strategy, BitMine stands as one of the largest cryptocurrency reserve companies, with a preference for holding ETH over BTC. This strategy yields more significant results as Ethereum 
$2,316‘s market valuation is relatively lower compared to that of Bitcoin, making billion-dollar purchases more impactful.
Even as the anticipated market decline commenced with the opening of the US markets, causing ETH to drop below $3,000, the digital currency remains robust. BitMine declared that its total ETH holdings have reached 3.97 million, indicating its progress towards a 5% supply goal, achieving 3.2% so far. The company is poised to surpass a reserve of 4 million ETH.
With an average daily trading volume of 1.9 billion dollars, BitMine (BMNR) is ranked the 41st most actively traded stock in the US.
By reducing its cost to approximately $3,074 per ETH, BitMine, under the leadership of its Chairman Tom Lee, has been accumulating ETH for only a few months. Lee stated in today’s announcement, “BitMine continues to steadily increase its ETH holdings, adding 102,259 ETH last week. The stabilization of crypto prices last week provides further evidence of recovery following the price shock on October 10th.”
Prospects for Ethereum (ETH)
In 2026, during the company’s annual shareholder meeting at Wynn Las Vegas on January 15, it is projected that news of MSCI removing crypto reserve companies from its indices could impact BitMine. While discussions mainly revolve around Strategy (MSTR), MSCI’s stance of considering crypto reserve companies akin to funds and excluding them from indices poses a significant challenge for BitMine. As the year closes, ETH may come under increased pressure.
As anticipated, cryptocurrencies initiated a downward movement today, with reasons accessible through prior reports. Should the sell-off persist, ETH might test the $2,814 and $2,638 price levels. Even though ETH maintained its strength above $3,400 during the October 10 collapse, further deterioration resulted in the emergence of this critical zone as resistance, contributing to deeper price dips.
