BitMine’s large buy and a string of public warnings have left markets watching Ethereum closely this week. Big moves were made during the sell-off, and firms and investors are now weighing whether those buys mean confidence or simply a bet on a rebound.

Large Scale Accumulation Continues

According to onchain data from Arkham Intelligence and the tracker ‘BMNR Bullz’, BitMine Immersion Technologies bought a total of 379,271 ETH in three separate purchases: 202,037 ETH after the weekend crash, 104,336 ETH on Thursday, and 72,898 ETH on Saturday.

Reports have disclosed the haul is worth almost $1.5 billion. The purchases have not been officially confirmed by BitMine, but the transfers were visible on public ledgers.

BitMine’s Position And Timing

BitMine is reported to hold more than

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