BitMine purchases $33.65M in ETH from BitGo, bringing its holdings to 4.9% of total ETH supply.
Macro & Markets ·
BitMine acquired 12,500 ETH worth approximately $33.65 million from BitGo, expanding its ethereum holdings to 4.9 percent of the network's 122.1 million total supply. The purchase moves the entity closer to its stated target of accumulating 5 percent of circulating ETH.
The transaction was recorded to address 0xE0cd1fB17A9FB62d2410403cDC28b11AcD1e8e22. BitGo, a digital asset custodian, facilitated the sale, marking another step in what appears to be a broader accumulation strategy by the purchasing entity.
The 4.9 percent threshold places BitMine within a fraction of its publicly declared goal, though the exact timing and terms of any further acquisitions remain undisclosed.