Emre Yumlu 
A significant development has emerged in the crypto market. BitMine has filed to sell $20 billion worth of shares in order to purchase more Ethereum (ETH). This move is seen as part of the company’s strategy to further increase its ETH holdings and reflects strong confidence in the cryptocurrency’s future performance.
Massive ETH Purchase from Last Week
Last week, BitMine announced that it had purchased over 300,000 ETH, bringing its total holdings to 1,150,000 ETH. This major acquisition once again highlighted the influence of institutional investors on Ethereum.
As part of its public purchases, the company acquired an additional 317,126 ETH, valued at approximately $1.32 billion. This brought BitMine’s total holdings to 1.2 million ETH, creating a massive Ethereum portfolio worth around $5 billion.
Market Impact
Following BitMine, SharpLink ranks second with a portfolio of 598,800 ETH (around $2.5 billion). Such large-scale institutional purchases provide significant support to market liquidity and are viewed as a positive signal for prices.
Overall, the rapid accumulation of Ethereum by institutional investors is driving substantial activity in the digital asset market and is expected to have a positive effect on ETH prices in particular.
This content does not constitute investment advice. Cryptocurrency markets involve high risk, and it is important to conduct your own research before making any investment decisions.
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