BitMine Acquires $65 Million in ETH as Exchanges Decrease Reserves

BitMine Immersion Technologies, the largest corporate owner of Ethereum (ETH), has made a significant purchase of $65 million worth of ETH, bringing their total holdings to over 1.5% of the cryptocurrency’s circulating supply. This acquisition follows a trend of decreasing exchange reserves for ETH, which have dropped by 38% since 2022 as corporate treasuries and investment funds continue to absorb the cryptocurrency.