Adrieris
Fun Poster
- Messages
- 625
- Joined
- Dec 14, 2020
- Messages
- 625
- Reaction score
- 3
- Points
- 25
Bitmine's Ethereum Accumulation: 65,000 ETH in 24 Hours
Bitmine Immersion Technologies, led by Tom Lee, has significantly increased its Ethereum exposure through a series of short-term purchases and staking activities. In just 24 hours, the company accumulated approximately 65,000 ETH worth around $147 million. Some of these transactions were facilitated by institutional platforms FalconX and BitGo.Bitmine initially acquired 45,000 ETH valued at nearly $103.5 million,
followed by an additional 20,000 ETH costing about $44.8 million. This surge in purchasing activity marks one of the largest short-term accumulation phases this year.
In addition to its buying spree, Bitmine continues to allocate a significant portion of its assets to staking. Recent blockchain movements indicate that approximately 75,600 ETH were transferred to Coinbase Prime for staking, following a previous transfer of over 61,200 ETH.According to blockchain data from Arkham Intelligence,
the company has already staked around 3.8 million ETH valued at approximately $8.8 billion. This represents about 70.1% of its total Ethereum assets.
