BitMine Immersion just scooped up another massive chunk of Ethereum - we're talking 96,798 ETH in a single move. This pushes their total stash to a staggering 3.73 million ETH. That's some serious conviction right there.

For context, this kind of institutional accumulation doesn't happen in a vacuum. When mining operations start stacking ETH instead of immediately dumping for operational costs, it usually signals they're betting on higher prices down the road.

Their holdings now represent over $9 billion worth of Ethereum at current prices. Not many entities are sitting on that kind of ETH firepower. Worth keeping an eye on what moves they make next - these whale wallets tend to telegraph market sentiment before retail catches on.