BitMine Acquires $200 Million Worth of ETH, Becomes Largest Corporate Holder

BitMine’s recent purchase of $200 million worth of Ethereum highlights the growing interest from institutional investors in the cryptocurrency market. The company now holds the largest publicly disclosed treasury of Ethereum. 46,255 ETH were acquired through three transactions on Bitgo, increasing their total holdings to over 2.1 million ETH and valuing them at more than $9.2 billion. This move signals a strong commitment from BitMine to Ethereum as part of its investment strategy, potentially impacting the market’s liquidity.