According to on-chain tracking, BitMine added 23,773 Ether over three days as the market softened. The buying included 7,080 ETH for close to $20 million on Monday and 16,693 ETH for roughly $50 million on Saturday. Based on reports, those two transactions together pushed the firm’s recent outlay to nearly $70 million.

BitMine Steps Up Accumulation

The purchases follow a larger wave of buying from last week, when Bitwise moved 96,800 ETH for roughly $273 million. Reports have disclosed that BitMine now holds about 3.7 million Ether at an average cost of $3,008 per coin.

That puts the treasury in the red at current prices, but management appears focused on long-term targets: the firm says it is about 60% of the way toward a plan to control 5% of Ether’s supply.

The scale of that aim

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