BitMine has continued its aggressive Ethereum accumulation strategy with a fresh purchase valued at approximately $140.58 million. Onchain analytics indicate that nearly 48,000 ETH were acquired through institutional prime broker FalconX and distributed into two newly created digital wallets.
The acquisition adds to BitMine’s rapidly expanding Ethereum holdings, which have now reached roughly 3.97 million ETH. Industry observers believe the firm is positioning itself for long-term exposure to Ethereum’s role as a settlement and execution layer within the blockchain ecosystem.
Market participants note that large entities often rely on over-the-counter intermediaries to minimize price impact and maintain transaction privacy. BitMine’s accumulation follows a series of large ETH purchases over recent months, despite broader market consolidation.
The firm’s Ethereum hoard now represents more than three percent of circulating supply, placing BitMine closer to its stated objective of owning five percent of the Ethereum network over time.
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