Bitmain (BMNR), a Nasdaq-listed Bitcoin mining giant, has revealed a significant strategic move into Ethereum (ETH). As of the 17th (local time), the company holds a staggering 1,523,373 ETH, valued at approximately $6.612 billion. This substantial investment underscores Bitmain's belief in the long-term potential of Ethereum. The average purchase price for Bitmain's ETH holdings is reported to be $4,326. This suggests that Bitmain accumulated a large portion of its ETH position during periods of higher prices, signaling a confident long-term investment strategy. In addition to its substantial ETH holdings, Bitmain also possesses 192 Bitcoins. While significantly smaller than its Ethereum investment, this Bitcoin holding further diversifies Bitmain's cryptocurrency portfolio. The large Ethereum purchase represents a diversification away from pure Bitcoin mining, and bets on other future crypto technologies and growth. ```

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