## Bitmain Eyes Massive Ethereum Acquisition with $20 Billion Fundraise Bitcoin mining giant Bitmain (BMNR) is making waves with its ambitious plan to raise an additional $20 billion through an at-the-market (ATM) offering. This significant capital injection is earmarked for the strategic purchase of Ethereum (ETH), signaling a major shift in Bitmain's investment strategy. Originally targeting $2 billion, Bitmain already upped its fundraising goal to $4.5 billion on July 24th. This latest increase brings the total target to a staggering $24.5 billion, highlighting the company's strong conviction in Ethereum's potential. ## Bitmain Already Holds Substantial Ethereum Holdings As of July 10th, Bitmain held over 1.1 million ETH, valued at approximately $4.96 billion, making it the largest corporate holder of Ethereum. This pre-existing position, coupled with the planned acquisition, could significantly impact the Ethereum market. ## Korean Investors Show Increasing Interest in Bitmain Recent reports indicate growing interest in Bitmain stock from Korean investors, further fueling the company's expansion plans. This investor confidence underscores the market's positive outlook on Bitmain's strategic pivot towards Ethereum. ```