Bitmine ups Ethereum treasury stake
Bitmine, one of the largest cryptocurrency funds, has reported another increase in its Ethereum investments. According to the latest data, the company's accounts hold 4.42 million ETH tokens, which is 3.66% of the total Ethereum supply.
Thus, Bitmine controls a significant share of Ethereum, comparable to the amount of coins held on the balances of the largest crypto exchanges. According to analysts' estimates, Bitmine receives about $171 million annually just in staking rewards.
This Ethereum accumulation strategy is not accidental - the fund sees the second cryptocurrency as a promising asset from the perspective of long-term investments. In the context of the ongoing "crypto winter" and declining prices in the market, Bitmine intends to increase its presence in the Ethereum ecosystem, betting on the future growth of the ETH rate.
According to experts, the active buyout of Ethereum by large market players may signal the approach of the bottom of the current bear market. If the trend continues, it could create the preconditions for the subsequent recovery of the second-largest cryptocurrency.