PiCK

BitMine shows signs of additionally purchasing 18,345 Ethereum

Doohyun Hwang

Summary

A wallet believed to be owned by BitMine reportedly received an additional 18,345 Ethereum.
BitMine said it recently increased its cumulative holdings of Ethereum to 3,726,499, holding over about 3% of the total supply.
BitMine said it holds $12.1 billion in crypto and cash-equivalent assets.

A large additional purchase of Ethereum (ETH) by BitMine has been detected.

On the 2nd (local time), on-chain data showed that a wallet believed to be owned by BitMine received a transfer of 18,345 Ethereum (about $55.25 million) from custody firm BitGo.

This transfer coincides with BitMine's recent aggressive accumulation of Ethereum. Earlier, BitMine said it had additionally purchased 96,798 Ethereum last week, raising its cumulative holdings to 3,726,499.

This exceeds about 3% of the total Ethereum supply, representing roughly two-thirds of the company's stated target of 'holding 5% of the supply.'

As of the 30th of last month, BitMine held, in addition to ETH, 192 Bitcoin (BTC), $882 million in cash, $36 million in shares of Nasdaq-listed EightCo Holdings, among others, totaling $12.1 billion in crypto and cash-equivalent assets.

Meanwhile, Ethereum is trading at $2,998 on the Binance Tether (USDT) market, up 8% from the previous day.

ETH