Ethereum is once again at the center of institutional demand as two major players acquired nearly $882 million worth of Ether (ETH) within days. Blockchain data shows that BitMine Immersion Technology and an unidentified whale are aggressively expanding their holdings, signaling rising confidence in Ethereum’s long-term value.
BitMine Expands Its Ethereum Treasury
Public Bitcoin mining firm BitMine Immersion Technology made headlines after purchasing 106,485 ETH, worth around $470.5 million, over just 10 hours. The miner now holds approximately 1,297,093 ETH, valued at $5.75 billion.
Most of these acquisitions were executed through large over-the-counter (OTC) transactions and transfers from institutional intermediaries like Galaxy Digital, FalconX, and BitGo. This strategic accumulation underscores the growing trend of crypto miners diversifying into Ether as a hedge against Bitcoin volatility.
Alongside BitMine’s activity, a mysterious whale accumulated 92,899 ETH (roughly $412 million) in the past four days. Blockchain analysis reveals the entity created three fresh wallets before moving funds off Kraken, indicating a long-term storage strategy rather than short-term trading.
This stealthy accumulation highlights whale confidence in Ethereum’s potential, especially as it approaches new highs.
Institutional Capital Push: Billions Raised
The buying spree comes amid massive corporate fundraising:
- BitMine Immersion Technology is raising $24.5 billion via an at-the-market (ATM) stock offering.
- SharpLink secured $389 million through a recent equity raise.
At the same time, another newly identified entity purchased $1.3 billion in Ether across 10 wallets, surpassing the $1 billion inflows from ETFs earlier this week.
These figures highlight a shift in institutional treasuries, where Ethereum is gaining recognition alongside Bitcoin.
In response to the rapid accumulation, Standard Chartered Bank revised its Ethereum price forecasts:
- $7,500 in 2025 (up from $4,000)
- $12,000 in 2026
- $18,000 in 2027
- $25,000 by 2028
The bank attributes this bullish outlook to increasing institutional adoption, stronger stablecoin use, and favorable regulatory shifts in the US.
Despite the surge in accumulation, some whales are beginning to lock in profits. The well-known whale group “7 Siblings” sold 19,461 ETH (about $88.2 million) in just 24 hours, averaging $4,532 per coin.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.