Bitmine buys additional 25,000 ETH

On-chain analyst EmberCN reported on X that Bitmine has purchased an additional 25,000 ETH through BitGo, even as other institutions are generally selling in the current market. The purchase is valued at approximately $47.98 million. EmberCN previously noted that Bitmine holds over 5.41 million ETH and is currently facing an unrealized loss of about 43% on its holdings.