Rich by Coin

In a move that continues to establish its position as the largest Ethereum treasury in the world, BitMine Immersion Technologies (BMNR) has continued to grow its rapidly increasing Ethereum holdings. On Friday, December 19, data provided by popular CryptoQuant analyst Maartun shows that the publicly traded, Ethereum-focused company chaired by Tom Lee has added more than $300 million worth of ETH to its treasury over the last seven days. During the week, BitMine made repeated large Ethereum purchases, some exceeding 30,000 ETH in a single hour. With moves like these, BitMine continues to reaffirm its bullish stance and its commitment to executing a long-term treasury strategy.

Notably, the analyst shared charts showcasing steady, large inflows into crypto wallets linked to BitMine accounts throughout the last week. This incredibly bullish move has caught the eyes of market participants because the purchases happened during one of the market’s weakest periods. BitMine has always viewed crypto market pullbacks as a potential buying opportunity rather than a sell-off signal. Ethereum retested $2,777, a level not seen for over two weeks.

While Ethereum has continued to show mixed price action, investors remain uncertain about whether there is still a major rebound ahead before the year wraps up. Nonetheless, Ethereum is flashing signs of a potential rebound again, showing a decent increase of 1.33% over the last 24 hours and trading at $2,981 as of writing time. BitMine Immersion Technologies (BMNR) has added more than $300 million in ETH to its treasury over the past seven days, reinforcing its status as the largest Ethereum treasury holder. The purchases included large bursts, with some exceeding 30,000 ETH in an hour, according to CryptoQuant data.