Ethereum Price Plunges Below $2K Despite Strong Institutional Demand

In a move that highlights ongoing institutional commitment to Ethereum, Bitmine has continued to accumulate large quantities of ETH despite the asset's price falling below $2,000.

The latest acquisition sees Bitmine add another 25,000 ETH to its treasury, worth approximately $47.98 million from BitGo.

This follows a trend established by previous AMBCrypto reports, which revealed that Bitmine had accumulated over 5 million ETH valued at roughly $11.6 billion – making it the largest Ethereum treasury company.

Notably, this latest purchase suggests that Bitmine remains committed to its accumulation strategy, even as market conditions worsen.