BitMine bought $200 million worth of Ethereum during the coin’s stagnation

Blockchain-BitMine Immersion Technologies bought Ethereums worth about $200 million during the stagnation of the cryptocurrency rate.

On September 10 at approximately 23:00 Moscow time, BitMine employees purchased 46,255 ETH in three transactions. Thanks to this, the company’s stock of digital assets on its balance sheet reached 2,13 million, and their value amounted to $9,27 billion. According to these indicators, BitMine ranks first in the list of leading эфириум- treasury organizations.

ETH Purchases by BitMine Employees

BitMine representatives bought the cryptocurrency when its rate was around $4,330, which is 12,6% lower than the historical maximum recorded on August 24 at $4,956. Thus, the company took advantage of the downward trend, which flowed into a flat at risk of ending with a dump, to accumulate more coins and make a profit due to a possible increase in their rate.

Crypto community members who commented on the ETH investment post are betting on a quick resumption of the Ethereum bull run. Optimistic traders predicted the asset’s value would increase to $10,000 amid an influx of capital from institutional investors. If this prediction comes true, the Ethereum price will storm to the $5,000 peak in the near future. seemingly unattainable.

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