Bitmine made another move today.

Through Bitgo and FalconX, they swept 41,946 ETH into the warehouse today, which is almost $130 million at the current price. This is just today's data - going back this week, they have sucked a total of 97,649 ETH, close to $300 million.

To be honest, this institution is really rich. Since July last year, when ETH was still at $2,800, it has been fixed investment, and it has been bought every week rain or shine. Chasing all the way to the high of $4,600? Buy. Now pullback to 3100? Or buy.

This kind of operation of insisting on hoarding regardless of rise and fall is either a strong belief in the long-term value of Ethereum, or the amount of funds is large enough to completely ignore short-term fluctuations. However, judging from the 7-month continuous position building, Bitmine is obviously playing with ETH as a long-term allocation - this institutional-level fixed investment strategy can be regarded as a shot in the arm for the market to some extent.