Ethereum in the Spotlight: Bitmine and SharpLink Ramp Up ETH Purchases Worth Hundreds of Millions

Ethereum (ETH) is once again at the center of institutional attention. On-chain data shows that Bitmine Immersion and SharpLink Gaming are massively increasing their ETH holdings, just as U.S. economic data points to cooling inflation and investors search for new opportunities.

Bitmine Adds Over $200 Million in Ethereum Bitmine Immersion, backed by well-known analyst Tom Lee, made another huge acquisition of ETH in September. Its latest purchase included 46,255 ETH worth $200.43 million. This brings Bitmine’s total holdings to 2.126 million ETH, valued at more than $9.27 billion. On Wednesday, it added another 10,320 ETH ($44.57 million).Just a week earlier, it acquired 202,469 ETH ($881 million). According to Lee, Ethereum has strong support at $4,300 and is poised to drive what he calls an “Ethereum supercycle,” powered by blockchain, artificial intelligence, and the rise of the token economy. Bitmine’s stock (BMNR) has mirrored this momentum, soaring 551% year-to-date and closing at $45.60.

SharpLink Gaming Hints at More ETH Buys Another major player, SharpLink Gaming, has reportedly moved $379 million USDC into custody with Galaxy Digital. While it’s not yet confirmed if these stablecoins will be used to purchase ETH, similar transactions in the past were followed by large acquisitions. SharpLink currently holds an ETH treasury worth $3.6 billion.The company also repurchased 939,000 SBET shares under a $1.5 billion buyback program at an average price of $15.98. SBET stock closed at $16.09 on Wednesday, down 3.59%.

ETH Price Reacts to Economic Data Over the past 24 hours, Ethereum has gained more than 2%, trading around $4,411. The daily low was $4,296 and the high reached $4,450. Trading volume surged by 36%, signaling rising market interest. The rally came after data revealed U.S. Producer Price Index (PPI) inflation slowed to 2.6%, far below both the expected and previous reading of 3.3%.

Analysts Expect a Big Move Ahead According to traders such as IncomeSharks, ETH could be preparing for a major price move. Bollinger Bands are tightening, while On-Balance Volume (OBV) is rising faster than price – a classic indicator of accumulation and long-term bullish positioning. 👉 With aggressive institutional buying and favorable macroeconomic conditions, Ethereum may be on the brink of another powerful rally.

#Ethereum , #ETH , #CryptoAdoption , #blockchain , #CryptoInvesting

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies! Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“