BitMine Acquires $838 Million in ETH Amidst Market Downturn

BitMine, a leading crypto firm, strategically bolstered its Ethereum holdings by over 202,037 ETH during the recent market volatility. This acquisition pushed BitMine’s total ETH reserves to over 3 million tokens, representing approximately 2.5% of the circulating supply and solidifying its position as the largest publicly traded Ethereum holder. The firm’s move was driven by a substantial dip in the crypto market, offering favorable buying conditions. This strategic purchase follows a sharp sell-off last Friday that triggered significant liquidations across the crypto market.