BitMine’s Aggressive ETH Accumulation Hits $229M This Week via FalconX Exchange
Tom Lee's BitMine continues its relentless ethereum acquisition spree, adding $88.73 million worth of ETH through two fresh wallet withdrawals from the FalconX exchange. This brings its weekly total to $229.31 million, according to Arkham Intelligence.
The treasury company now controls 3.2% of all circulating ETH—a staggering 407,331 tokens acquired in just 30 days. BitMine's latest MOVE follows a $140 million purchase disclosed earlier this week, cementing its position as the largest institutional holder of Ether.
Market observers note the firm's pattern of bulk acquisitions through exchanges like Kraken and BitGo, with 48,623 ETH ($150 million) added in a single transaction last week. 'This isn't accumulation—it's domination,' remarked one blockchain analyst watching the wallet movements.