Bitmine acquired 7.5K ETH (~$14.61M) from BitGo, bringing its total holdings to over 4.8% of Ethereum's supply.
Macro & Markets ·
Bitmine has acquired 7,500 ETH worth approximately $14.61 million from BitGo through a newly identified wallet address, according on-chain monitoring. The transaction adds to the entity's existing Ethereum holdings, which now exceed 4.8% of the total Ethereum supply.
The acquisition reflects Bitmine's sustained focus on building a large ETH treasury, a strategy attributed to the company's leadership under Tom Lee. This accumulation mirrors the approach taken by similar figures in the cryptocurrency space who prioritize long-term asset concentration in major digital assets.
The specific wallet address involved in the purchase is 0x95dE268E950E582A239E350A800C050882612c44, though the exact timing of the transaction and any additional context around the BitGo transaction terms remain unclear from available reporting.