BitMine Immersion Technologies continues to strengthen its position in the cryptocurrency market with a significant Ether purchase.
Record Growth of BitMine's ETH Treasury
Blockchain technology firm BitMine Immersion Technologies acquired 46,255 ETH worth $200 million in its second major purchase this week. With this acquisition, the company's total Ether holdings have surpassed 2.1 million ETH, valued at $9.2 billion after a 2% price increase over the last 24 hours.
Slowdown in Bitcoin Acquisitions
While ETH treasury buys have surged, Bitcoin-related purchases have slowed, with public companies making just four purchases totaling around $60 million. The largest buyer this week was Pop Culture Group with a $33 million acquisition of 300 BTC.
General Trends in the Crypto Market
Amid record Ether purchases, attention is drawn to whether Bitcoin acquisitions will catch up. Despite the slowdown in Bitcoin purchases, the stocks of crypto-investing companies are showing growth, indicating that the market remains active.
The recent acquisitions by BitMine highlight the growing interest in Ethereum, while Bitcoin purchases exhibit a slowdown. The future of the market will depend on the further actions of participants.
