A significant development has captured the attention of the cryptocurrency market: Nasdaq-listed Bitcoin mining firm BitMine Immersion reportedly purchased $1.24 billion worth of Ethereum, marking a major institutional move. This massive acquisition of 293,186 ETH occurred over eight days through OTC platforms like FalconX and Galaxy Digital and custody providers like BitGo. The move suggests a strategic shift by the company to diversify its investment portfolio into Ethereum, further fueling the growing interest from institutional investors in the cryptocurrency market. 🤯 Analysts believe this action underscores a broader trend of institutional adoption of Ethereum beyond Bitcoin, as traditional and crypto-native institutions increasingly see the potential for long-term growth. 📈 📚