Bitmine makes largest ETH purchase amid price dip

Bitmine Immersion has executed its most substantial Ether (ETH) purchase since December, acquiring over 111,942 ETH worth approximately $237 million. This strategic move comes as Ether's price fell below the $2,200 mark, presenting what the company views as an attractive buying opportunity. The acquisition increases Bitmine's total ETH holdings to nearly 5.4 million tokens, representing about 4.47% of the circulating supply. The firm aims to control 5% of Ether's supply by the end of 2026 and continues to generate significant staking revenue from its substantial holdings.