BitMine Buys 266,119 ETH in One Week, Crosses $2 Billion in Ethereum Holdings
Main Idea
BitMine acquired 266,119 ETH in one week, increasing its total holdings to 566,776 ETH worth $2.06 billion, while Ethereum's price rose 2.82% amid the buying activity.
Key Points
1. BitMine purchased 266,119 ETH worth $970 million in seven days, bringing its total holdings to 566,776 ETH valued at $2.06 billion as of July 24, 2025.
2. Ethereum's price increased by 2.82% on July 24, closing at $3,732.5, with trading volume rising to 11.45K ETH.
3. BitMine aims to acquire and stake 5% of the total Ethereum supply, leveraging staking yields and reinvested cash flow.
4. The company's treasury strategy involves scaling quickly, increasing ETH holdings per share after a $250 million private placement on July 8.
5. Ethereum's RSI reached 78.7, indicating overbought conditions, while the price remained well above the 50-day EMA ($2,903.5), signaling strong bullish momentum.
Description
BitMine acquired 266,119 ETH in 7 days, raising its total holdings to 566,776 ETH worth $2.06 billion as of July 24. Ethereum’s price jumped 2.82% on the same day, closing at $3,732.5 with volume rising to 11.45K ETH. RSI reached 78.7, placing ETH in overbought territory, signaling possible short-term resistance after the sharp July rally. BitMine Immersion Technologies has acquired an additional 266,119 ETH worth $970 million in just the past seven days, according to a company update published ...
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