Bitmain Acquires 41,792 ETH in $147 Million Strategic Move

2025-11-11 00:45

Cryptocurrency mining giant Bitmain has acquired 41,792 Ethereum tokens, valued at approximately $147 million, according to on-chain data from Onchainlens. This significant purchase includes 18,271 ETH sourced from the Kraken exchange. The acquisition marks Bitmain's strategic diversification beyond Bitcoin mining, signaling confidence in Ethereum's ecosystem. Analysts interpret this move as a vote of confidence in Ethereum's transition to a proof-of-stake model and potential ETF approvals. The purchase is expected to reduce the available supply of Ethereum on exchanges, potentially influencing market sentiment and price dynamics.

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