Bitmine

BNB climbed to a two-month high of $620 before meeting resistance at its 200-day moving average, reinforcing its role as a barometer for trading activity across crypto markets. Bitcoin remains under a more complicated spotlight as large addresses build positions while long-term holder balances continue to decline.

Former Ethereum Foundation institutional privacy researchers have launched EthSystems, a for-profit company focused on confidentiality tools for banks and other financial institutions using Ethereum. The move comes as Ethereum’s ecosystem redistributes key responsibilities through new independent organizations amid rising institutional interest in public blockchain infrastructure.

Bitmine Immersion Technologies added 27,084 ether last week in a $43 million purchase that lifted its ETH holdings to 5.7 million tokens. Chairman Thomas Lee said quarter-end window dressing helped drive recent weakness in bitcoin and ether.

Five former Ethereum Foundation researchers have launched Ethlabs, an independent nonprofit aimed at supporting Ethereum development. The initiative is backed by SharpLink, Bitmine and Consensys CEO Joe Lubin, signaling a broader push beyond the Ethereum Foundation.

Bitmine purchased $92 million worth of ether last week as it keeps moving toward its target of owning 5% of ETH supply. Chairman Thomas Lee says the company will continue accumulating into 2026, citing tokenization and AI as long-term demand drivers.

Bitmine added 76,881 ETH last week, deepening its Ethereum treasury position after closing a $274 million preferred stock offering. Chairman Tom Lee said staking revenue helps support dividend payments on the new equity.