Bitmine Purchases 22,676 ETH Worth $68.86 Million in Recent Transaction

Bitmine Purchases 22,676 ETH Worth $68.86 Million in Recent Transaction

Bitmine now holds $13.2 billion in assets, including over 3.8M ETH, as it accelerates Ethereum acquisitions toward owning 5% of the total supply.

BTC
ETH

Fact Check
The statement is assessed as 'likely_true' with high confidence based on consistent corroboration from multiple relevant sources. The primary source from PANews Lab, a crypto-focused news outlet with decent authority, directly and completely supports every element of the claim: the buyer (Bitmine), the seller (BitGo), the precise amount of cryptocurrency (14,618 ETH), and its valuation ($44.34 million).This claim is further substantiated by two additional news briefs from Bitget. Although these sources are from the same domain and have slightly lower authority, they independently confirm the core details of the transaction, including Bitmine's involvement, the ETH amount, and the dollar value. While one summary does not explicitly mention BitGo, it does not contradict the other reports. The presence of multiple, consistent reports significantly strengthens the credibility of the statement.The remaining sources are irrelevant to the specific transaction. The Yahoo Finance article is on an unrelated topic, and the Zypto URL is a commercial homepage. Neither provides evidence for or against the statement. Given the direct confirmation from a specialized news source and consistent supporting data from others, with no conflicting evidence presented, the statement is highly likely to be true.
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Summary

Bitmine’s latest disclosure shows $13.2 billion in assets as of December 7, comprising 3.864 million ETH, 193 BTC, and $1 billion in cash. The firm purchased 138,452 ETH last week, marking a 156% increase in weekly buying volume as part of its target to acquire 5% of Ethereum’s total supply. This follows recent onchain tracking of a 22,676 ETH transfer worth $68.86 million from BitGo to a Bitmine-linked wallet, reinforcing its aggressive acquisition strategy.

Terms & Concepts
  • ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and decentralized applications.
  • BitGo: A digital asset custodian and wallet provider offering secure storage and transfer services for cryptocurrencies.