Bitmine Acquires 25,000 ETH Worth $47.98M Amid Market Decline

BMNR-3.7%
ETH-4.43%
According to on-chain analyst EmberCN, Bitmine recently acquired 25,000 ETH worth approximately $47.98 million through custody provider BitGo. The digital asset company's total Ethereum holdings now exceed 5.41 million ETH, making it one of the largest institutional investors in the ecosystem. Despite carrying unrealized losses of approximately 43 percent due to the decline in Ethereum prices, the company continues to expand its position.
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