BitMine Acquires $201 Million in Ethereum, Bolsters Position as Market Leader

Cryptocurrency exchange and investment firm BitMine Immersion Technologies made a significant move on Wednesday night, acquiring 46,255 ETH worth approximately $201 million. This acquisition was revealed by blockchain analytics company Onchain Lens, showing fund transfers from a BitGo wallet to three separate addresses. While BitMine has yet to release an official statement regarding this transaction, the move significantly expands their holdings, pushing their Ethereum portfolio to 2,126,018 ETH valued at $9.3 billion. This acquisition positions BitMine as a top player in the Ethereum market.