Bitmain, a Nasdaq-listed Bitcoin mining giant (BMNR), is making waves in the Ethereum (ETH) market. According to Lookonchain, citing Arkham (ARKM) data, an address linked to Bitmain has acquired 28,650 ETH, valued at $130 million, in just one hour. This significant purchase underscores Bitmain's strategic interest in Ethereum. Addresses believed to be associated with the company now collectively hold a staggering 1,174,000 ETH, worth approximately $5.26 billion. This massive ETH accumulation suggests Bitmain is positioning itself for potential future developments and opportunities within the Ethereum ecosystem, potentially including staking or participation in decentralized finance (DeFi) protocols. The move highlights growing institutional interest in Ethereum beyond its traditional use as a blockchain platform. ```

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