BitMine Buys 97,000 Ethereum (ETH) Ahead of Fusaka Upgrade, Bullish on Fed Policy

BitMine Immersion Technologies, the mining firm co-founded by prominent analyst Tom Lee, has made a major accumulation of 97,000 Ethereum (ETH). This strategic acquisition signals strong institutional confidence in ETH's future. The company cites two key positive catalysts for the move: the upcoming Fusaka network upgrade, expected to enhance Ethereum's scalability and efficiency, and a favorable outlook on Federal Reserve monetary policy, which could increase liquidity for risk assets like cryptocurrencies. This large-scale purchase by a known institutional player is seen as a bullish indicator for the Ethereum ecosystem and its native token, ETH.