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BitMine purchased an additional 7,660 ETH worth 29.54 million USD through Galaxy Digital.
BitMine Immersion Technologies, led by Wall Street expert Thomas Lee, has just purchased 7,660 ETH ( worth 29.54 million USD) through Galaxy Digital's OTC trading desk, as part of a long-term strategy to own 5% of the total Ethereum supply. The company currently holds over 3.3 million ETH ( worth more than 13 billion USD at a price of 3,855 USD/ETH), equivalent to 2.7% of the circulating supply. Over the past week, BitMine has spent an additional 320 million USD and 113 million USD earlier this week to increase their accumulation. Purchasing through OTC helps to reduce slippage when trading large volumes, reflecting strong institutional confidence in ETH amidst the growth of DeFi and expectations of upcoming ETF inflows.