Will Ethereum breakout? BitMine’s massive buy and bullish whale flip suggest…

BitMine’s biggest weekly Ethereum [ETH] purchase came along with a bullish whale profit sign! Is the first altcoin all set to breakout?

BitMine adds 71,524 ETH, total holdings near 4.88 million

BitMine Immersion Technologies recorded its strongest weekly Ethereum accumulation since December 2025! The treasury added 71,524 ETH over the past week.

The latest purchase takes the firm’s total holdings to roughly 4.875 million ETH, extending its lead as the largest corporate ETH holder in the market. As of the 12th of April, the company’s combined crypto assets and cash reserves were at approximately $11.8 billion.

BitMine now holds just over 4% of Ethereum’s total supply.

Whale profit signal goes positive again

Bitmine’s buying aggressively, and whale positioning looks just as constructive. Per recent data, wallets holding over 100,000 ETH have just moved back into unrealized profit; this is after they briefly went into a loss zone.

This change has so far been a key inflection point. The pattern of price rallies, following similar flips in the years 2019, 2020, and late 2022, brings weight.

Large holders are once again back in profit, so it’s clear that confidence is returning at the top end of the market. That could be an early bullish sign for ETH.

ETH holds above $2,200

At press time, ETH was trading at $2,207.68, above the key $2,200 level. This is after a climb through late March and early April.

Momentum is in mildly bullish territory without yet entering overbought conditions, so there’s more room to run. On the DMI, the +DI at 23.41 remained above the -DI at 16.23, so buyers still have the upper hand.

However, the gap has narrowed slightly in recent sessions. Meanwhile, the ADX near 15.89 indicated that a trend is developing but isn’t strong enough to confirm a breakout.

The near-term bias is tilted in ETH’s favor.

Final Summary

• BitMine’s 71,524 ETH weekly buy is its biggest since December 2025.
• Things are looking good for Ethereum, with whale wallets also returning to profit.