Ethereum whales increased accumulation as wallets holding 1,000 to 10,000 ETH rose from roughly 4,750 in early June toward 4,850 as ETH held its breakout. U.S. spot Ethereum ETFs recorded a third straight week of inflows, adding $103.9 million in the week ending July 24 throughout July.
Bitmine Technologies announced they have bought another 9,946 ETH over the past week, another sign of long-term conviction from institutions and holders.
The company added nearly 10,000 ETH over the past week, bringing its holdings to 5.79 million Ether, about 85% of which is staked through its validator operations.
Lido has activated the largest upgrade to its Core Protocol since Lido V2, and it starts by moving more than 8 million ETH onto Ethereum's newer validator design, the company explained on Monday, in a note shared with Bitcoin.com News. That stake, worth roughly $16.5 billion, is about a fifth of all ETH currently staked.
Lido began migrating more than 8 million staked ETH, valued near $16.5 billion, onto Ethereum's post-Pectra validator architecture in its largest upgrade since 2023. The consolidation may cut Ethereum's validator count by one-third and attestation messages by 29% per epoch, without directly reducing gas fees or accelerating transactions.
Bitmine expanded its Ethereum treasury by purchasing 9,946 ETH, increasing its total holdings to 5,787,414 ETH valued at approximately $11.3 billion, making it one of the largest corporate holders of Ether. The company also repurchased 6.
Bitmine Immersion Technologies added 9,946 ETH and retired 6.1 million shares last week, tightening its grip on ethereum's supply while signaling that management sees value in both the asset and its own stock. As of 7 p.m. EDT on July 26, Bitmine disclosed it held 5,787,414 ETH worth about $11.
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The company says it now holds 5.79 million ETH, equal to 4.8% of the cryptocurrency's circulating supply, while expanding its staking operations and share buyback program.
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