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**Bitmine just dropped another bomb** 💰
Ark just spotted: 24,007 ETH (~$87M) flowing into a fresh Bitmine wallet from Galaxy Digital's OTC desk in the last 12 hours. Market dipped right after, but that's ETH worth $82.9M today.
Here's where it gets interesting - Bitmine's now sitting on **3.529M ETH** ($12.84B). That's not just flex money, that's conviction.
But plot twist: they're actually underwater. Average entry? $3,637.79 per coin. Current price bouncing around that level, so they're carrying a ~$658M paper loss.
While retail's panic-selling, institutional whales are stacking harder. The thesis seems clear: either they know something, or they're massive ETH believers riding this out.
Wallet: 0xa2356385Be00dE065bae513f18f2DDe4a3bDFF5c
**So what's the play here?** Smart accumulation at the dip, or are they about to learn an expensive lesson? The data says they believe. Question is - do you?