BitMine Acquires 2.5% of Ethereum Supply Amidst Market Dip

BitMine, a prominent crypto investor, has significantly expanded its Ethereum holdings, acquiring over 3 million ETH in the latest market dip. This substantial accumulation represents more than 2.5% of the total Ethereum supply and positions BitMine as a leading institutional holder. The move comes amid growing institutional interest in ETH, exceeding 10% of the total supply. Thomas Lee, Market Strategist and investor at BitMine, confirmed this operation during a recent interview. This strategic acquisition by BitMine is seen as a sign of confidence in Ethereum’s potential for growth, reminiscent of early Bitcoin accumulation strategies.