Bitmine purchased $70 million worth of Ethereum (ETH) on Tuesday, continuing to expand the world's largest corporate ETH treasury.
According to blockchain analytics platform Lookonchain, Bitmine acquired 40,000 ETH on Tuesday across two wallet addresses. Arkham Intelligence data cited in the post shows the funds were transferred from hot wallets on FalconX and Kraken.
While Bitmine has not officially confirmed the purchase, the company has been steadily accumulating Ethereum and making weekly disclosures. On Monday, Bitmine revealed that it acquired 42,197 ETH last week, lifting its holdings to 5.74 million tokens. This is roughly 4.8% of Ethereum's circulating supply, close to Bitmine's 5% target.
According to the latest disclosure, the company held total crypto and cash worth $11.1 billion as of June 28. The company is also staking 4,879,157 ETH through MAVAN, its Made in America Validator Network, representing about 85% of its total ether holdings.
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