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Bitmine Buys 75,000 ETH for $123 Million on June 9, Treasury Surpasses 5.4M ETH

GateNews
Capital Flow
ETH0.48%

According to Bitcoin.com News, Bitmine acquired 75,000 ether on June 9 for approximately $123 million, averaging near $1,640 per coin. The trades were routed through Kraken and FalconX over an eight-hour window and split across three wallets.

The purchase brings Bitmine's total ethereum holdings above 5.4 million ETH, making it the second-largest crypto treasury globally after MicroStrategy. Tom Lee, Fundstrat co-founder and Bitmine chair, is pursuing his stated "Alchemy of 5%" goal of controlling more than 5% of all ether in existence.

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