Suspected BitMine Address received 48,049 ETH from FalconX 5 hours ago
BlockBeats News, December 17th, according to LookIntoChain monitoring, a wallet address suspected to belong to BitMine received another 48,049 ETH from FalconX 5 hours ago, worth approximately $140.58 million.
Compared to a strategy relying on debt and preferred stock financing, Bitmine's current financial structure has more cushioning capability thanks to equity issuance, cash reserves, and ETH staking rewards.
The ebb of the top three buyers, BitMine bears the brunt of ETH selling pressure alone. With a floating loss of 3 billion, it is the ultimate gamble about "buying the dip" and "catching the falling knife."