Core Insights - BitMine Immersion Technologies added $195 million worth of Ethereum to its holdings, now owning 3% of the total supply, equating to 3.63 million Ethereum valued at $10.1 billion [1][2] - Despite a recent stock price drop of 43% over the past month, BitMine's shares rose 10% to $28 on Monday [2] - The company reported an increase in unencumbered cash from $607 million to $800 million, while still holding 192 Bitcoin and a $38 million stake in a crypto treasury firm [3] Company Performance - BitMine's stock price fell to a four-month low of $24.33 last week before recovering to $28, reflecting a significant decline in the past month [2] - The recent acquisition of 69,822 Ethereum represents a 1.9% increase from the previous week, marking it as the second smallest purchase of the year [2] Market Context - The purchase of Ethereum comes amid heightened scrutiny of crypto-buying firms, as their market caps approach the value of their digital assets [3] - Ethereum's price recently fell to a four-month low of $2,680 but has since recovered to around $2,859, showing a 2.2% increase over the past day [5] - A Myriad prediction market indicates only 32% of respondents believe Ethereum will rise to $4,000 in its next significant move, reflecting overall pessimism [5]

ethereum validators in record exit queues. back to april 2024 validator counts. these aren't traders, they're infrastructure providers locking 32 eth minimum who just gave up. 3.5% staking yield minus hardware costs minus slashing risk equals maybe $3k yearly on $110k locked. sky savings pays 4.75% on usds with zero infrastructure. months of forced eth selling ahead as exits process. ...

rex osprey eth staking etf got zero sec comments. zero.blackrock bought 48m yesterday alone. 1.1b this month. cme shorts just hit ath.ethereum validators at new record 1,083,579. stablecoin supply doubled to 135b since january. third highest daily transactions ever.robinhood announcing something tomorrow at eth cannes. everyone looking elsewhere. ...