BitMine Bolsters Ethereum Holdings Amid Ongoing Institutional Buying Interest

BitMine has increased its Ethereum holdings with another large purchase of 7,500 ETH worth approximately $14.61 million.

This adds to the company's growing Ethereum reserve and makes it one of the largest corporate holders of the asset, owning more than 4.8% of Ethereum's total supply.

The timing of this purchase has caught attention as it comes despite a recent pullback in ETH price, which is currently trading at $1,882.15, down 3.88% over the last 24 hours.

Spot Ethereum ETFs also recorded net inflows of $9.31 million on July 27, with BlackRock's ETHA fund leading the way with $11.75 million in new inflows.