BroadChain learned that at 07:00 on April 24, according to Bitcoinist, Arkham Intelligence data shows that three newly created wallets received 100,000 ETH (approximately $233.7 million) from institutional custodian BitGo. These wallets are labeled as associated with Bitmine and are all new addresses. Institutional-level on-chain transfers of this scale typically reflect coordinated acquisitions rather than routine portfolio adjustments.
Bitmine currently holds 4,976,485 ETH (4.12% of circulating supply), making it the largest corporate Ethereum treasury globally. Among these, 3,334,637 ETH are staked through the MAVAN validator network, generating an annualized staking income of approximately $221 million. The company has accelerated acquisitions for four consecutive weeks, with the latest week seeing purchases of over 100,000 ETH, marking the largest single-week increase in 2026.
Ethereum's price is attempting to stabilize around $2,300, with the weekly chart showing a series of higher lows since the February low of $1,800. However, the 100-week and 200-week moving averages form dynamic resistance in the $2,300-$2,600 range, with previous breakout attempts all failing. If ETH can hold above $2,300 and absorb selling pressure, the next target is $2,800; if it loses this level, it may retest the $2,000 area.