According to on-chain analyst Yu Jin, addresses previously created and accumulating large amounts of ETH through BitGo may belong to Bitmine. These addresses have accumulated 293,186 ETH, valued at approximately $1.24 billion, over the past eight days through institutional platforms such as FalconX, Galaxy Digital, and BitGo. Analysis suggests that Bitmine may be the only institution currently capable of matching this trading volume. Bitmine previously announced that it had increased its holdings by 317,000 ETH over the past week, bringing its total holdings to 1.15 million ETH.