MarketPR
Bitmine has raised its $ETH position to 4.59 percent of total circulating supply, adding 75,000 ETH at a cost of $123 million — a move executed while prices were sliding and crowd sentiment toward Ethereum had soured to its worst reading of the year.
The purchase is not a press-release number; it shows up as a structural feature in Ethereum's holder distribution. Buying into falling prices and peak pessimism puts Bitmine squarely in contrarian territory.
Scale of the Position A stake representing 4.59 percent of circulating supply is consequential by any measure of on-chain concentration.
The 75,000 ETH added in this latest tranche came at a combined outlay of $123 million, implying an average entry price that can be derived from those two figures alone: roughly $1,640 per token.
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