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Bitmine Acquires $600 Million in Ethereum in 10-Hour Buying Spree

On-chain data from Ember shows Bitmine’s rapid $600 million ETH purchase via FalconX, Galaxy Digital, and BitGo, boosting reserves to nearly $5.8 billion.

Summary

According to on-chain analyst Ember, BitMine acquired 135,135 ETH valued at $600 million within 10 hours via FalconX, Galaxy Digital, and BitGo. This latest purchase lifted BitMine’s total Ethereum reserves to 1.297 million ETH, worth around $5.77 billion, underscoring its aggressive accumulation strategy.

Terms & Concepts
  • Ethereum (ETH): A decentralized, open-source blockchain platform featuring smart contract functionality and its native cryptocurrency, Ether.
  • Institutional Trading Platforms: Specialized platforms such as FalconX, Galaxy Digital, and BitGo that facilitate large-scale cryptocurrency transactions for institutional clients.