BitMine увеличила свои запасы на ETH, воспользовавшись рыночной коррекцией на $417 млн Translation: BitMine Boosts Its ETH Reserves Amid Market Correction by $417 Million

BitMine Immersion Technologies has boosted its reserves by acquiring 104,336 ETH valued at $417 million. This information was disclosed by Lookonchain analysts, referencing data from Arkham.

The funds were transferred to three new addresses through seven transactions originating from wallets on the Kraken exchange and from the BitGo custodian. The operation has not been officially confirmed by BitMine.

As of now, the company holds 3.03 million ETH amounting to $12.18 billion, making it the largest corporate holder of Ethereum. The firm is led by co-founder of Fundstrat, Tom Lee.

The head of BitMine has consistently voiced support for the second largest cryptocurrency by market cap. In a recent interview with CNBC, he forecasted a «grand rally» for Bitcoin and Ethereum in the fourth quarter.

The $417 million purchase occurred amidst a market correction, with Ethereum’s price dropping 9.7% over the past week to $4036. The asset is trading 18.6% below its all-time high, according to CoinGecko.

Analysts note that despite a recent wave of liquidations, fundamental market indicators remain solid, providing a basis for potential growth.

“Crypto evangelists have taken a hit—they believe in cryptocurrency as an investment so strongly that they engage in leveraged speculation. These individuals are not going anywhere,” remarked Wincent Paul Howard, a senior director.

To recall, on October 13, BitMine acquired 202,037 ETH at a discount, capitalizing on the downturn in the digital asset sector.