BitMine has emerged as the world's largest Ethereum holder after purchasing 234,846 ETH for nearly $1 billion. This acquisition increases BitMine's total Ethereum holdings to 2.65 million tokens, valued at approximately $11 billion. The purchase has positively impacted Ethereum's market performance, with its price rising 5.39% to $4,389, and BitMine's stock climbing 3.46% in pre-market trading.
The acquisition has sparked bullish sentiment among analysts, with predictions that Ethereum could reach $4,750. Institutional interest in Ethereum is also on the rise, as evidenced by $80.79 million in inflows into Ethereum ETFs on October 1.
BitMine Acquires $1 Billion in Ethereum, Becomes Largest Holder
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