BitMine just made waves with a massive Ethereum accumulation — scooping up 138,452 ETH for approximately $429 million last week. This represents their heftiest single purchase in nearly two months, signaling renewed institutional conviction in ETH despite market volatility.
The buying spree pushes BitMine's total Ethereum stash to a staggering 3.8 million ETH, currently valued at roughly $12 billion. That's enough firepower to make them one of the top non-exchange ETH holders in the ecosystem.
What's driving this aggressive accumulation strategy? Could be positioning ahead of anticipated protocol upgrades, or simply doubling down while prices remain relatively subdued compared to previous cycle peaks. Either way, when whales move this aggressively, the market usually takes notice.
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BitMine just made waves with a massive Ethereum accumulation — scooping up 138,452 ETH for approximately $429 million last week. This represents their heftiest single purchase in nearly two months, signaling renewed institutional conviction in ETH despite market volatility.
The buying spree pushes BitMine's total Ethereum stash to a staggering 3.8 million ETH, currently valued at roughly $12 billion. That's enough firepower to make them one of the top non-exchange ETH holders in the ecosystem.
What's driving this aggressive accumulation strategy? Could be positioning ahead of anticipated protocol upgrades, or simply doubling down while prices remain relatively subdued compared to previous cycle peaks. Either way, when whales move this aggressively, the market usually takes notice.