BitMine made a purchase of Ethereum worth 100 million dollars.

Recently, there has been movement in the cryptocurrency market. In particular, the fluctuations in the price of Ethereum (ETH) have caught the attention of investors. The price of Ethereum has been trading at $4,384, experiencing a decline of 1.4% in the last 24 hours. Among these developments, institutional investor BitMine Immersion Technologies (BMNR) has made an additional contribution to its treasury by purchasing 23,823 Ethereum. This purchase represents an investment of $103.7 million in line with the company's goals.

According to Arkham data provided by Lookonchain, BitMine made this amount through the BitGo wallet from the address "0xF8c…338E7". Although the wallet is not marked in the Arkham database, analyses conducted by analysts have determined that this address belongs to BitMine. The company has not yet officially confirmed this purchase; however, BitMine currently holds a total of 2.83 million Ethereum, with an asset value of approximately $12.4 billion.

Founded by Tom Lee, the firm not only holds the largest corporate treasury position in terms of Ethereum, but it also stands out as the second largest corporate treasury in the world for cryptocurrency assets, after Michael Saylor's Strategy company. BitMine has reiterated its goal of owning 5% of the Ethereum supply in previous statements. The company's strategy aims to support the growing role of Ethereum in the financial market infrastructure.

Currently, BMNR shares have closed at $59.10, down 1.5% on the exchanges. Investors are advised to closely monitor the future of Ethereum and developments in corporate trading processes. Particularly, the purchases made by large institutional players like BitMine can have a significant impact on the market.