Bitmine Doubles Down on ETH Purchases During Market Dip

Despite Ethereum’s recent price drop, Bitmine has continued its aggressive accumulation of the cryptocurrency. On November 21st, the company purchased an additional $49 million worth of ETH, boosting its holdings to a total of approximately 3.5 million ETH, valued at over $10 billion. This puts them in second place only behind Strategy as the biggest corporate Ethereum holder. Bitmine’s strategy involves using fresh capital from stock offerings and staking rewards to make these purchases quietly through trading platforms like FalconX and BitGo, ensuring a smooth transaction process without disrupting market prices.