BitMine Doubles Down on Ethereum Purchases Despite Market Downturn

Crypto firm BitMine has continued its aggressive investment strategy in Ethereum, recently purchasing another $273 million worth of the cryptocurrency. This significant action brings their total holdings to over 3% of the Ethereum supply and solidifies their position as the largest Ethereum treasury globally. Despite market uncertainty and a drop in prices, BitMine’s buying spree highlights their commitment to long-term growth. Experts suggest that this aggressive approach stems from Bitcoin’s recent price plummet. 39% increase in recent purchase pace, signifies BitMine’s confidence in Ethereum’s future. 5% of the network’s ETH supply is set as their ambitious target for ownership.