Overview
- BitMine purchased roughly $250 million of ETH in the past week, lifting its holdings to about 3.24–3.3 million tokens, equal to roughly 2.7%–2.74% of circulating supply, with a stated goal of 5%.
- Arkham Intelligence reported three new wallets received about $250 million in ETH from BitGo and Kraken that matched prior BitMine acquisition patterns.
- Strategy acquired 168 BTC for about $18.8 million, taking its total to 640,418 BTC, a purchase confirmed by founder Michael Saylor on X.
- Shares rose after the disclosures, with BitMine up about 7.9% and Strategy up about 2.3% in regular trading.
- The buys followed an October slide that saw ETH and BTC fall roughly 10%, presenting what these firms characterized as a buying opportunity.