BitMine Invests $65M in Ethereum, Positioning For Potential Long-Term Growth

Leading corporate ether holder BitMine Immersion Technologies has made a strategic investment of $65 million into Ethereum (ETH), marking their first purchase this month. The company purchased the ETH on Thursday through Galaxy Digital’s over-the-counter desk, as reported by blockchain analytics platform Arkham Intelligence. This acquisition follows a trend of shrinking ETH reserves across centralized exchanges and reflects BitMine’s growing confidence in the long-term value of Ethereum.