31-10-2025 – Blockchain analytics firm Lookonchain has detected that BitMine purchased 44,036 ETH, valued at around $166 million, as cryptocurrency markets experienced a downturn. The transaction highlights how major players are capitalizing on lower prices to accumulate assets.
ETH, the second-largest cryptocurrency by market cap, has faced pressure from broader economic factors, including regulatory scrutiny and shifting investor sentiment. BitMine’s move comes at a time when Ethereum’s price hovered below recent highs, potentially positioning the firm for gains if the market rebounds.Â
