Ethereum Jumps 7% as BitMine Backs MrBeast’s Beast Industries with $200M Deal

The Ethereum price has surged 7% in the last 24 hours to trade at $3,392, coinciding with BitMine Immersion Technology's $200 million equity investment in Beast Industries, the entertainment company founded by YouTube star Jimmy Donaldson, popularly known as MrBeast.

This marks one of BitMine’s significant non-core equity investments to date. While the exact stake, valuation, and governance rights tied to the deal were not disclosed, BitMine has recently staked over 186,000 ETH, demonstrating confidence in Ethereum’s long-term potential.

Beast Industries operates a network of YouTube channels with more than 450 million subscribers. Thomas Lee, chairman of BitMine, praised MrBeast and his company, calling them “the leading content creator of our generation” with unmatched reach and engagement across Gen Z, Gen Alpha, and Millennials. Lee also emphasized the alignment of corporate and personal values between BitMine and Beast Industries.

As part of the deal, Beast Industries plans to explore decentralized finance (DeFi) integration in its upcoming financial services platform, according to CEO Jeffrey Housenbold. However, specific product details, timelines, and regulatory frameworks have not yet been finalized. Cointelegraph reached out to both companies for further comment, but did not receive a response by publication.

BitMine Investment Supports MrBeast’s Expansion

The investment aligns with MrBeast’s broader strategy of expanding beyond YouTube, which began in 2025. During the New York Times’ DealBook Summit in December, Donaldson announced plans to launch a financial services platform aimed at promoting financial literacy, as well as a phone company called Beast Mobile. These ventures are part of his vision to provide access to global information and innovative consumer services.

Beast Industries has shown significant financial growth, generating $400 million in revenue in 2024, according to investor materials seen by Business Insider. The partnership with BitMine not only brings a major capital injection but also positions Beast Industries to explore blockchain-based financial solutions, signaling a strategic move to combine media, technology, and emerging decentralized finance opportunities in its expansion.

This investment reflects both companies’ focus on innovation and growth, with BitMine leveraging its resources to back a leading digital content and creator-driven platform, while MrBeast continues to diversify his business operations into new markets and technologies.

Ethereum Price Signals Bullish Reversal

The Ethereum (ETH/USD) 4-hour chart shows a clear bullish setup after a period of consolidation and accumulation. Earlier, the price was moving within a bearish channel, with lower highs and lower lows, which indicated selling pressure.

Around mid-December, the price found a major support level near $2,900–$2,950, where buyers began stepping in and absorbing the selling, leading to a sideways consolidation phase. This base provided a solid foundation for the next bullish leg.

Following the accumulation phase, Ethereum broke upward, forming a rounded bottom pattern, which is a classic reversal signal. The rounded bottom shows a gradual shift in market sentiment from bearish to bullish, reflecting growing demand and weakening selling pressure.

Once the price broke above the resistance zone near $3,300, it entered the reward zone, signaling a continuation of the bullish trend. The upward move was accompanied by a rising RSI, which peaked above 70, showing strong momentum, although the recent slight pullback suggests a minor consolidation before the next leg up.

ETH Targets $3,600 High Ahead

The chart also highlights a target price around $3,550–$3,600, based on the measured move from the rounded bottom pattern. This level serves as a potential profit-taking zone for traders. Meanwhile, the previous resistance zone near $3,300 has now turned into a near-term support, reinforcing the bullish outlook.

Technical structure indicates that Ethereum is positioned for further gains, provided it maintains support above the $3,300 level and continues to attract buying interest. Short-term traders may watch for small pullbacks as opportunities to enter, while momentum indicators like RSI can help gauge whether the trend has enough strength to reach the target zone.