BitMine adds $24M in ETH – Can macro risks derail its Ethereum strategy?

Corporate Ethereum [ETH] accumulation is a double-edged sword. The logic is simple: With DATs aligned to the broader market, there is a direct impact on their actual ETH exposure if there is either a risk on/risk off trigger. With risk-off sentiment forming around the FOMC decision and earnings reports, DATS may come under pressure as capital flows across traditional risk assets shift. In this context, the upcoming 48 hours are potentially very important for Ethereum. BitMine (NASDAQ: BMNR) has just announced it bought 10,452 ETH worth about $24 million in a post on X. This brings its 30-day accumulation of Ethereum up to about 68,000 ETH. Its total holdings are now 6.05 million ETH. The interesting part? BMNR also bought back $45 million worth of its own shares.

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