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Bitmine-linked address buys 104,600 ETH worth $194.8 million via FalconX

Bitmine-linked address buys 104,600 ETH worth $194.8 million via FalconX

PANews, citing Onchain Lens on August 1, reported the FalconX-routed purchase as part of BitMine’s Ethereum treasury accumulation; the report said BitMine now holds more than 4.8% of ETH supply.

ETH

Summary

A wallet believed to be linked to BitMine purchased 104,600 ETH through FalconX in a transaction valued at about $194.8 million, according to PANews on August 1 citing Onchain Lens. This is larger than an earlier version of the report that said 10,460 ETH worth $19.48 million. The reported purchase adds to BitMine’s Ethereum treasury strategy, under which the company holds ETH as a strategic balance-sheet asset. The report said BitMine now holds more than 4.8% of Ethereum’s supply and is the world’s largest publicly traded Ethereum treasury.

Terms & Concepts
  • Ethereum treasury: Corporate reserve of ETH holdings kept as a strategic balance-sheet asset.
  • FalconX: Digital-asset prime brokerage and trading platform often used for large crypto transactions.
  • ETH supply: The total amount of ETH in circulation.