Bitmine bought $53 million worth of ether last week, a more than 75% drop from the previous week's buying spree of 112,000 ETH. The sharp reduction marks a significant shift in the company's crypto accumulation pace.
The Latest Purchase
Last week's acquisition totaled $53 million in ether, according to the company's disclosed activity. The dollar amount reflects the value at the time of purchase.
The Previous Week's Spree
The week before, Bitmine had snapped up 112,000 ETH in what the company described as a buying spree. That volume dwarfed the latest figure when measured in either tokens or dollars.
The Scale of the Reduction
The drop amounts to a reduction of more than 75% in weekly ether purchases. The company has not given a reason for the slowdown, and it's unclear whether this is a temporary pause or the start of a longer trend.
