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Crypto

BitMine Doubles Down on Ethereum with $14.9 Billion Bet

Guavy AI Editorial Team
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BitMine has made a significant move in the Ethereum market by purchasing an additional 32,447 ETH, bringing its total holdings to 5,847,611 ETH and increasing its exposure to the asset.

This acquisition comes as Ethereum experiences a rise, with Tom Lee, founder of BitMine, stating that the increase was expected for a long time due to tokenization on Wall Street and support from Washington for digital assets.

The purchase represents a significant investment in ETH, with no details provided on the price paid. However, it is worth noting that a large portion of BitMine's holdings are staked, generating additional income through network rewards.

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