Bitmine buys 45,000 ETH for $95.3M, holding 4.1% of total supply
Bitmine Immersion Technologies acquired 45,000 ETH for $95.3 million, increasing its holdings to 4.976 million ETH, or about 4.12% of Ethereum's total supply. Despite the significant purchase, market sentiment remains skeptical, with only a 4% probability priced for Ethereum reaching $10,000 by the end of 2026. The prediction market for ETH hitting $10,000 is highly illiquid, with low trading volume and high sensitivity to large orders. Bitmine’s move appears bullish, but broader institutional momentum or major technical upgrades are needed to shift market expectations.
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Bitmine Immersion Technologies purchased 45,000 ETH valued at $95.3 million, while the market for Ethereum reaching $10,000 by the end of 2026 sits at 4% YES. Bitmine now holds 4.976 million ETH, roughly 4.12% of total supply. Despite the scale of the purchase, the odds for Ethereum hitting $10,000 by December 31, 2026, have not moved from 4% YES. The Ethereum market is thin, with daily actual USDC trading volume at just $100. It takes $1,446 to move the market by 5 percentage points, meaning a single large order could swing the odds substantially. The last notable movement was a 47-point drop from 50% to 2%. Bitmine’s accumulation looks bullish on its own, but the market isn’t responding.
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