BitMine Buys 101,745 ETH for $238M; Third Week Over 100k
BitMine bought 101,745 ETH for about $238 million, its third straight weekly purchase above 100,000 ETH and part of more than 300,000 ETH added over three weeks.
BitMine purchased 101,745 ether (ETH) for about $238 million in the most recent week, according to on-chain records. The transaction implies an average price near $2,340 per ETH.
It is the third consecutive weekly acquisition by the entity identified on-chain as BitMine, bringing its additions to more than 300,000 ETH over the three-week period.
Blockchain records and market data show the transfers, and BitMine has not issued a public statement explaining the purchases.
Transactions of this size are settled through a mix of exchange orders and over-the-counter arrangements to reduce market impact and manage execution.
Analysts and on-chain tracking services follow addresses and custody flows to estimate institutional activity; confirming motive requires a direct comment from the buyer.
Ether is the native token of the Ethereum blockchain and is used for transaction fees, staking and as collateral in decentralized finance applications. Firms add crypto to corporate treasuries or use tokens for staking and protocol participation.
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