Bitmine-Linked Wallet Buys Additional $19.5 Million of Ether

A wallet believed to be linked to Bitmine has apparently bought more Ether.

Data from Onchain Lens on July 31 showed an address identified as a Bitmine-related wallet purchased 10,460 Ether through FalconX, an institutional crypto brokerage.

The transaction was valued at about $19.48 million. That implies an average purchase price of roughly $1,862 per Ether.

Bitmine is the world's largest publicly traded corporate holder of Ether. Data the company disclosed on July 27 showed it held 5,787,414 Ether, or about 4.8% of the total supply. Its total assets, including crypto holdings and cash, were estimated at $11.8 billion.

Bitmine is pursuing a strategy to secure 5% of Ethereum's total supply. Its target holding is about 6.03 million Ether.