BitMine Acquires 202,037 ETH Amid Market Dip, Holdings Exceed 3 Million

BitMine Technologies (BMNR) increased its Ethereum holdings by purchasing 202,037 tokens, valued at $828 million.
This acquisition followed a dip in crypto prices, which BitMine saw as an opportunity.
The company's total ETH holdings now exceed 3 million tokens, representing 2.5% of Ethereum's supply.
BitMine aims to acquire 5% of all Ethereum on the market.
Following a crypto flash crash, addresses likely linked to Bitmine withdrew significant amounts of ETH from Kraken and FalconX.
Ethereum's price fell from $4,500 to $3,500 due to U.S.-China trade tensions but rebounded to $4,100 by Monday.
BMNR shares rose 4.3% in pre-market trading after a previous 11% decline.