Bitmine Acquires $397.8 Million Worth of Ethereum, Increasing Holdings to 2.9% Supply

Bitmine has acquired approximately $397.8 million worth of Ethereum (ETH) through a significant purchase of 110,301 ETH. The acquisition adds to Bitmine’s already substantial holdings, bringing their total ETH supply to 3,505,723 ETH, equivalent to over $12.64 billion. This move makes Bitmine one of the largest Ethereum stakeholders in the market, holding a remarkable 2.9% share of the circulating supply. This acquisition is noteworthy as it signifies Bitmine’s commitment to Ethereum and their potential influence on market liquidity and price dynamics.