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BitMine Immersion Technologies has added 48,049 ETH valued at about $140 million to its corporate treasury, according to Cointelegraph data. The purchase came as Ethereum traded near $2,937 with modest daily gains. Market data showed stable pricing despite falling trading activity.
The move followed earlier large-scale acquisitions that expanded BitMine’s exposure to Ethereum. The transaction placed the firm among the most significant corporate holders of Ethereum.
BitMine transferred 48,049 ETH into its treasury as part of an ongoing accumulation strategy. The company continued to treat Ethereum as a core balance sheet asset through repeated purchases.
Earlier reports showed BitMine acquired roughly 102,259 ETH worth about $321 million the previous week. Those transactions aligned with a long-term plan to build one of the largest Ethereum treasuries. Through these purchases, BitMine moved closer to its stated target of holding nearly 5% of the total ETH supply. Each transfer increased its footprint within the Ethereum ecosystem.
The most recent Ethereum transfer involved institutional trading partner FalconX. The transaction reflected continued access to deep liquidity channels. Large-scale transfers of this size signaled sustained institutional engagement with Ethereum. Market participants monitored these movements for potential supply effects.
As BitMine accumulated rather than distributed ETH, fewer tokens were added to exchange balances. This pattern drew attention from both retail and institutional observers tracking treasury flows.
Ethereum traded near $2,937.27 over the last 24 hours, based on CoinMarketCap data. The asset recorded a 0.21% daily gain during that period. Price action stayed within a narrow range between approximately $2,880 and $2,960. The chart showed sharp dips followed by rapid recoveries. These movements suggested active short-term trading without a sustained directional trend. Lower participation appeared alongside continued price stability.
Earlier reports showed BitMine acquired roughly 102,259 ETH worth about $321 million the previous week. Those transactions aligned with a long-term plan to build one of the largest Ethereum treasuries. Through these purchases, BitMine moved closer to its stated target of holding nearly 5% of the total ETH supply. Each transfer increased its footprint within the Ethereum ecosystem.
The most recent Ethereum transfer involved institutional trading partner FalconX. The transaction reflected continued access to deep liquidity channels. Large-scale transfers of this size signaled sustained institutional engagement with Ethereum. Market participants monitored these movements for potential supply effects.
As BitMine accumulated rather than distributed ETH, fewer tokens were added to exchange balances. This pattern drew attention from both retail and institutional observers tracking treasury flows.
Ethereum traded near $2,937.27 over the last 24 hours, based on CoinMarketCap data. The asset recorded a 0.21% daily gain during that period. Price action stayed within a narrow range between approximately $2,880 and $2,960. The chart showed sharp dips followed by rapid recoveries. These movements suggested active short-term trading without a sustained directional trend. Lower participation appeared alongside continued price stability.
