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Bitmine’s $70M Ethereum Purchase via FalconX Exchange Signals Bullish Macro Bet

Bitmine’s $70M Ethereum Purchase via FalconX Exchange Signals Bullish Macro Bet

Author:

Global Cryptocurrency

Published:

2025-12-02 17:07:03

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FalconX exchange News -

Bitmine Immersion Technologies (BMNR) stock surged 10% to $31.70 after the company acquired 23,773 ETH worth $70 million. The firm now holds 3.7 million ETH, representing over 3% of the circulating supply, solidifying its position as the largest corporate ethereum holder. Chairman Lee linked the accumulation to Ethereum's upcoming Fusaka upgrade, indicating long-term conviction despite market volatility.

The buying spree included 7,000 ETH ($19.8M) purchased through the FalconX exchange and 16,693 ETH ($50.1M) acquired over the weekend. Bitmine's treasury strategy reflects strong institutional confidence in ETH's fundamentals, with the company 63% toward an undisclosed accumulation target. Market analysts interpret these moves as a bullish wager on both cryptocurrency adoption and anticipated macroeconomic policy shifts.

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