Bitmine Acquires 96,800 ETH for $273 Million as Ethereum Tests Key Support Level

Bitmine purchased 96,800 Ethereum tokens worth approximately $273 million over the past week, according to Arkham Intelligence. The acquisition occurred as ETH traded near $2,800 and found support at the 78.6% Fibonacci retracement level around $2,716. The firm currently holds approximately 3.44 million ETH valued near $10 billion, with $880 million in capital designated for future purchases.