BitMine don reach 2.65 million ETH, Bit Digital dey find $100 million raise
BitMine Immersion don add their ETH treasury reach 2.65 million tokens. Dem buy 234,000 ETH for average price of $4,141, bring their total holdings pass $11 billion and solidify themself as top institutional Ethereum treasury.
Bit Digital announce $100 million convertible senior note offering plus $15 million option to buy about 23,714 ETH. If dem do am full, their holdings go pass 140,000 ETH, put dem for sixth place on institutional list.
Together, institutional treasuries and ETFs hold over 11.8 million ETH—almost 10% of supply—show say institutional adoption dey grow. BitMine chairman Tom Lee talk say Ether dey trade for 'future discount' ahead of expected crypto–AI supercycle for late 2025.
This concentration of ETH for big treasuries reduce free float. With predictable institutional buying, e support bullish outlook. Traders fit see fresh momentum and possible DeFi summer.
Bullish
BitMine move wey add 234,000 ETH plus Bit Digital $100 million convertible note offering dey show say buying pressure dey immediate and free float don reduce, wey fit support price stability and upside for near-term. For long term, concentration of over 11.8 million ETH for institutional treasuries—almost 10% of supply—plus Tom Lee forecast wey talk crypto–AI supercycle convergence dey show constant demand. This kain predictable institutional accumulation dey always come before bullish cycles and fit spark renewed DeFi rally.