Crypto firm Bitmine, led by Wall Street veteran Tom Lee, has made another massive Ethereum purchase. The company bought 15,427 ETH, worth around $69 million, through Galaxy Digital’s over-the-counter desk. Blockchain data shows the transfers included several large moves executed within an hour, such as 3,247 ETH, 3,258 ETH, 4,494 ETH, and 4,428 ETH. This coordinated approach allowed Bitmine to accumulate without causing open-market disruptions.
The fresh acquisition lifts Bitmine’s total Ethereum holdings to approximately 1.95 million ETH, currently valued at $8.66 billion, per Arkham data. With this, Bitmine surpasses competitors like SharpLink Gaming (838,000 ETH) and The Ether Machine (495,000 ETH), cementing its place as the largest corporate ETH treasury.
Overall, Bitmine now controls nearly 1.8% of Ethereum’s supply. Analysts note its aggressive strategy mirrors Michael Saylor’s Bitcoin playbook at MicroStrategy. With Ethereum’s staking rewards offering additional yield, experts believe ETH treasuries could outpace Bitcoin in long-term value generation.
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