Bitmine just scooped up another massive pile of ETH. Last week alone? 96,798 coins. Cost them $272.3 million.

Their total stash now sits at 3.73 million $ETH—worth around $10.48 billion at current prices. That's not a position. That's a statement.

When institutions move this kind of volume, the market listens. Whether it's conviction or strategy, one thing's clear: they're not here to play small.

ETH-9.76%

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BlockchainDecoder

· 2h ago

According to research, such large accumulation behaviors need to be analyzed from multiple dimensions. Data shows that Bitmine's Holdings indeed constitute a market signal, but it is worth noting that institutional behavior itself cannot directly derive market trends — this relates to the discussion of cyclicality in Minsky's financial instability hypothesis. Based on the following points: 1. The purchase speed of 96,798 ETH in a single week itself is alarming and may imply some short-term liquidity window; 2. From a technical perspective, could the concentration issue of 3.73M become a future risk exposure; 3. In summary, we should not blindly interpret it as a single signal of "institutional optimism." It is advised to observe rationally, rather than over-interpret.

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