BitMine has made another major investment in Ethereum, purchasing $470 million worth of ETH and increasing its total holdings to 1.3 million ETH. This move positions the company as one of the largest institutional holders of ETH, now owning 1% of its entire circulating supply.
- BitMine's ETH holdings now total 1.3 million, representing a significant stake in the network.
- The recent $470M purchase signals strong institutional confidence in Ethereum's long-term value.
- Holding 1% of the circulating ETH supply could grant BitMine increased influence and staking power.
- This accumulation may indicate bullish sentiment ahead of future network upgrades or market growth.
This could be a strong investment signal, as large-scale institutional accumulation often suggests expectations of future price appreciation and long-term ecosystem value. Show Less
