Ethereum treasury firm Bitmine just scooped up 100,000 ETH valued at $234 million from institutional platform BitGo into three wallets, per on-chain data spotted an hour ago. This move mirrors their purchase of 101,627 ETH last week, raising questions on whether it's fresh buying this week or a delayed transfer, as Bitmine (NYSE: BMNR) ramps up its strategy to maximize ETH per share through aggressive treasury management. Founded as a digital asset pioneer, Bitmine leverages BitGo's secure infrastructure for such large-scale transfers, bolstering institutional ETH adoption amid broader crypto market trends including Bitcoin (BTC) surges and emerging hype around TAO ecosystems.

On the technical front, ETH trades at $2,351.17 with a bullish backbone as it holds above the EMA200 at $2,224.81, signaling sustained macro strength even as momentum cools. Price action hugs the upper Bollinger Band resistance near $2,414.24, where RSI at 51.17 stays neutral but MACD's golden cross at 11.15 hints at building upside pressure—watch for a quick dip to the EMA50 support around $2,329.78 if volatility spikes, setting up confluence for a stronger leg higher in this Ethereum treasury purchases cycle, especially with institutional flows like Bitmine's driving ETH price prediction models toward fresh highs.