Bitmine Immersion Technologies, the largest Ethereum treasury firm, has capitalized on a recent dip in Ethereum's price by purchasing $153 million worth of ETH, totaling 71,672 tokens. This acquisition brings Bitmine's total holdings to 5.28 million ETH, valued at $11.2 billion. The firm has staked 89% of its holdings, amounting to 4,712,917 ETH. Bitmine's chairman, Tom Lee, views the price drop below $2,200 as a strategic buying opportunity, with the firm aiming to reach 6 million ETH by 2026. Despite a surge in ETH staking demand, which reached a record 32% in April, Ethereum's price has lagged, dropping 12.6% to below $2,200. Market sentiment remains cautious, with ETH's fear index at 29. However, on-chain analytics indicate that large holders have increased their ETH positions, suggesting potential long-term confidence in the cryptocurrency's prospects.