Ethereum Price Races Toward $4K With BitMine Buying More $2B in ETH in Just 16 Days

The Ethereum price has surged 0.53% in the last 24 hours, to trade at $3,726.04, on a 3.25% pump in the daily trading volume, to $42.29 billion.

Ethereum Price Surges With BitMine Buying More $2B in ETH

Ethereum’s price is moving fast toward $4,000, thanks in part to massive buying from big companies. The biggest move came from BitMine Immersion Technologies, which bought over $2 billion worth of Ethereum (ETH) in just 16 days. That’s 566,776 ETH, making BitMine now the largest company holder of Ethereum.

BitMine isn’t stopping. The company’s chairman, Tom Lee, says they aim to own and stake at least 5% of all Ethereum out there. That would mean collecting over 6 million ETH  which, at today’s prices, is about $22 billion. Lee said, “We are well on our way to achieving our goal.” Other companies are following, too: for instance, SharpLink Gaming now owns over 360,800 ETH after buying $320 million worth.

If BitMine really gets to its 5% goal, it would be a huge force in the crypto world, almost like MicroStrategy did with Bitcoin. As more companies buy and stake Ethereum, experts think the price will keep going up, especially if ETH breaks above $4,000.

Can Ethereum Get to $4,000?

Ethereum shows strong upward momentum, currently trading around $3,720–$3,730. The price recently hit $3,812, just under a key resistance band. A break above $3,877–$3,987 is seen as the gateway to a possible run toward $4,200. If ETH doesn’t break through, support exists at $3,434–$3,500 and, if needed, a further cushion around $3,600–$3,700.

ETHUSD Analysis Source: Tradingview

The market’s positive technicals back these moves: The Relative Strength Index (RSI) on the weekly chart sits firmly in the “power zone,” which historically signals continued upside potential rather than an imminent top. Trading volumes have surged concurrently with price action, and on-chain data reveals significant accumulation by whales, further underlining the bullish outlook.

If Ethereum overcomes the resistance, forecasts point to a run to $4,025 in the near term and potentially $4,200 by early August. However, if ETH is rejected at resistance, the price may consolidate around $3,600–$3,700, with a break below $3,434 opening the door for a brief correction toward $3,300 or lower.