BitMine Invests $65 Million in Ethereum, CEO Draws Comparison to 1971 Stock Market Moment

BitMine Immersion Technologies, the largest corporate investor in Ethereum, has made a significant investment of $65 million in ETH. This move marks their first transaction this month and follows a decrease in Ether reserves across centralized exchanges, which have hit their lowest point in three years. These declining levels are attributed to corporate buy-ins and the growing popularity of exchange-traded funds (ETFs) absorbing available ETH tokens. 💰