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#BitMineBuys40KETH
BitMine made a significant purchase on Monday, further strengthening its Ethereum-focused strategy. The company acquired Ethereum worth a total of $83.6 million.
According to on-chain data, BitMine purchased approximately 40,000 ETH through FalconX and BitGo. During these transactions, the price of Ethereum was around $2,090.
With these latest purchases, BitMine's total Ethereum holdings have exceeded 4.3 million ETH. The company took a significant step towards its previously announced goal of "reaching 5% of the circulating ETH supply," and announced that it has completed approximately 72% of this target.
BitMine Chairman Tom Lee stated:
"Despite short-term market downturns, usage on the Ethereum network remains strong. Our long-term outlook and belief have not changed in any way." This development shows that BitMine's aggressive accumulation strategy for Ethereum continues, and the company is committed to building a long-term ETH position despite market fluctuations.