Haciyev Reşit 
According to on-chain data, crypto treasury firm BitMine Immersion Tech purchased 14,665 ETH (approximately $64.7 million) through Galaxy Digital. This move is seen as an indication that the company is further expanding its massive Ethereum reserves.
BitMine’s Ethereum Holdings Continue to Grow
According to Arkham Intelligence, the purchase was executed through Galaxy Digital’s OTC trading wallet in six separate transactions.
BitMine’s Current Holdings: 1.75 million ETH
Total Value: Approximately $7.7 billion
Share of Total Ethereum Supply: 1.44%
The company’s ultimate goal is to hold 5% of Ethereum’s total supply, which would make BitMine the largest institutional holder of ETH.
Rising Institutional Demand for ETH
Ethereum treasuries have been growing rapidly in recent months due to increased institutional interest and strong inflows into spot ETH funds. For example:
- SharpLink Gaming recently purchased 39,008 ETH, bringing its total holdings to 837,230 ETH.
- According to The Block, publicly traded ETH treasury companies now hold a total of 2.77 million ETH.
Ethereum Price Performance
Rising institutional demand has also contributed to ETH price strength:
- Last 30 days: ETH up 20%
- Bitcoin in the same period: down 3%
- Last 24 hours: ETH up 2%, trading at $4,408
BitMine’s latest acquisition underscores that institutional demand for Ethereum continues unabated.