Analyst: Bitmine buys more ETH, reducing unrealized loss to $658M

A new wallet address that received 24,007 ETH from a Galaxy Digital over-the-counter (OTC) desk in the past 12 hours is believed to belong to Bitmine, according to on-chain analyst Ai姨 on X. The transaction increases Bitmine's total holdings to 3.529 million ETH, valued at $12.84 billion, and reduces its unrealized loss to $658 million.