Bitmine Acquires $130 Million Worth of ETH, Signaling Growing Institutional Crypto Confidence

In a significant move that signals growing institutional confidence in cryptocurrency, Bitmine Immersion Technologies (BMNR), a Nasdaq-listed Bitcoin miner, has acquired an additional 28,650 Ether (ETH), valued at approximately $130 million. This transaction, confirmed by LookOnChain via X and citing Arkham Intelligence data, highlights the increasing interest of institutional players in Ethereum. This substantial purchase indicates Bitmine’s proactive strategy to diversify its digital asset portfolio beyond Bitcoin. The company has been actively expanding its holdings in major cryptocurrencies.