Group 1 - BitMine is aggressively accumulating Ethereum, having received 21,537 ETH valued at approximately $60 million from FalconX, despite a 47% decline in its stock price and billions in unrealized losses [1][2] - The new purchase will increase BitMine's total Ethereum holdings to over 3.5 million ETH, which is nearly 3% of the circulating supply, indicating a strong commitment to its "Strategic ETH Reserve" strategy [2] - Ethereum's current trading price is around $2,808, reflecting a 29% decrease over the past month, attributed to broader market mechanics rather than fundamental issues [2][3] Group 2 - The October 10 "liquidity shock" resulted in nearly $20 billion in leveraged positions being wiped from the crypto market, significantly impacting BitMine's ETH holdings and leading to an estimated $4 billion in paper losses [3][4] - BitMine's stock has lost nearly half its value in the past 30 days due to the downturn in the crypto market [4]
BitMine Ramps up Ethereum Buying With New $60 Million Purchase
Yahoo Finance·2025-11-23 16:45