BitMine appears to buy the dip as ETH is down 20% from peak

Onchain data suggests that BitMine acquired 104,336 ETH, worth approximately $417 million, on Thursday, as prices fell 20% from their August highs, bringing its treasury to over 2.5% of the total supply.

The world’s largest Ether (ETH) digital asset treasury, BitMine, has reportedly bought the dip again as ETH continues to retreat from its August all-time high.

Tom Lee-chaired BitMine Immersion Technologies reportedly scooped up a further 104,336 Ether worth around $417 million on Thursday, according to onchain data.

Over the past seven hours, three new wallets received the assets from Kraken and BitGo, Lookonchain reported. BitMine has not publicly confirmed the transactions.

Read more