Analysis: Whale behind $1.24B ETH purchase likely BitMine

Nasdaq-listed Bitcoin mining firm BitMine Immersion is likely behind addresses that acquired 293,186 ETH (about $1.24 billion) through FalconX, Galaxy Digital and BitGo over the past eight days, on-chain analyst @EmberCN said on X, citing Arkham data. Last week, the company said it purchased an additional 317,000 ETH, bringing its total holdings to 1.15 million ETH.