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8h ago

BitMine Buys 24,000 ETH for $104 Million, Taking October Tally Above $407 Million

The buy extends a months-long plan to build a multibillion-dollar ETH treasury toward a stated 5% supply goal.

Bitmine strengthens ethereum treasury with $104m as price holds $4300

Overview

  • On-chain tracker Lookonchain identified an October 10 purchase of roughly 24,000 ETH valued near $104 million.
  • October acquisitions now exceed $407 million, bringing BitMine’s holdings to about 2.83 million ETH, or roughly 2.34% of circulating supply, worth around $12.3 billion.
  • The latest accumulation follows an October 8 receipt of more than 20,000 ETH worth about $90 million executed via FalconX, with Coindoo citing a BitGo-linked wallet for the newer transfer.
  • Ethereum trades near $4,368, with traders watching support around $4,250 and resistance near $4,645–$4,700 to gauge the next move.
  • BitMine is the largest disclosed corporate holder of ETH, as short-seller Kerrisdale Capital questioned its model this week and shares slipped about 1.5%.