Bitmine Adds 40,000 ETH Worth $70 Million, Total Holdings Hit 5.74 Million ETH

ETH-3.25%
According to on-chain data analyst Lookonchain, Ethereum-focused treasury company Bitmine recently purchased 40,000 ETH worth approximately $70 million. The purchase was transferred from FalconX and Kraken wallets through two addresses. Bitmine's total Ethereum holdings now stand at 5.74 million ETH, representing approximately 4.8% of circulating supply, just below the company's 5% target. Of the total holdings, approximately 4.88 million ETH are staked on the MAVAN network, generating passive income for the company.
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