Ethereum: Institutional Investor BitMine Buys 27,256 ETH ($104M) — Chairman Calls Dip a “Buying Opportunity”
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
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According to LookIntoChain monitoring cited by COINOTAG on October 11, leading institutional investor BitMine expanded its ETH holdings by 27,256 ETH, a position valued at roughly $104 million, marking a material on-chain accumulation in Ethereum.
BitMine’s chairman described the recent market dip as a “shakeout” and characterized the ensuing pullback as a tactical buying opportunity, per the company’s statement; the remarks accompany the disclosed transfer and contextualize the firm’s portfolio activity without projecting future price moves.
The transaction, verified by on-chain analytics, underscores continued institutional engagement in the crypto market; investors and analysts should incorporate this verified data point into broader risk-management and liquidity assessments rather than interpret it as a standalone market signal.