Bitmine's ETH Holdings Surge Past 4 Million: What This Means for the Market

Major institutional movement just hit the radar. Two wallets attributed to Bitmine completed a substantial ETH acquisition—48,049 $ETH valued at approximately $140.6 million.

Here's what the numbers tell us: if this transaction is confirmed, Bitmine's total ETH holdings would climb to 4,015,259 ETH, representing roughly $11.8 billion in value. That's a serious chunk—over 3.3% of the entire ETH supply now under one roof.

To put this in perspective, we're talking about one entity controlling more than one-third of a percentage point of all ether in circulation. This scale of institutional concentration raises interesting questions about market dynamics, hodling strategies, and where the smart money sees value in the current cycle.