BitMine Don Buy 833,137 ETH, Create Di Biggest Ethereum Treasury
BitMine Immersion Technologies don buy 833,137 ETH (about $3 billion) for 35 days, dem don establish the biggest corporate Ethereum Treasury. The buy, wey investors Cathie Wood and Bill Miller III back, e happen for average price of $3,491.86 per ETH. Along with this record buy, BitMine approve $1 billion stock repurchase plan to strengthen their Ethereum-focused treasury strategy. The company shares don surge over 650% since June, showing say market confidence dey strong for their plan. BitMine move dey leverage Ethereum’s network upgrades and the growing DeFi ecosystem, e position the company as one big staking player. Analysts believe say this record-size Ethereum Treasury fit fit change DeFi protocols, strengthen staking pools and reduce circulating supply wey go affect both short-term volatility and long-term bullish momentum.
Bullish
Corporate buy wey carry 833,137 ETH come increase institutional demand well well and e comot plenty supply for market, wey go support Ethereum price dem. Di record acquisition plus stock buyback plan dey show say management get serious confidence, e fit make more institutional money come enter market. For short term, trading volumes and market wahala fit rise as market dey absorb di buy. For long term, increased staking participation and DeFi growth wey relate to dis treasury position go create strong bullish fundamentals for ETH.