Ethereum consolidated near $2,480-$2,500 after briefly breaking above $2,500 during a roughly 30% weekly rally. BitMine chairman Tom Lee said the company has no reason to sell ETH, citing a reported $300 million gain and nearly $300 million in annual staking rewards against $30 million-$35 million in obligations on its 9.5% Series A perpetual preferred stock. Arkham reported that BitMine bought about $79.17 million of ETH during the week ended August 24, 2026, bringing its reported holdings to approximately 5.846 million ETH, or about 4.8%-4.85% of supply, near its 5% target. Lee said the target may not be a cap if enterprises adopt ETH as a long-duration treasury asset. Ethereum's broader rally was supported by spot ETF inflows, Treasury buyback expansion, whale accumulation and exchange outflows, but technical resistance, mixed breadth and competition leave the next move uncertain.