Bitmine: Buys 60000 ETH for $126 Million

Bitmine purchased 60000 ETH for $126 million through BitGo and Kraken on May 23, marking the latest move in its sustained accumulation strategy.

Over the past twelve months most corporate ETH treasury programs have either paused or liquidated holdings, leaving Bitmine as the only consistent buyer in the sector.

Price action on the 4h chart shows ETH trading inside the Bollinger Bands with upper resistance at $2160.52 and lower support at $2030.05 while the EMA50 at $2131.23 and EMA200 at $2220.29 define the bearish structure. The MACD has printed a bullish golden cross at -5.84 yet RSI sits neutral at 50.38, suggesting any test of the upper band could trigger a retracement toward the 50-EMA before the next directional leg.