PANews reported on August 12th that Ember's monitoring revealed that addresses recently created and accumulating large amounts of ETH through BitGo are suspected to belong to Bitmine. Over the past eight days, these addresses have accumulated a total of 293,186 ETH, valued at approximately $1.24 billion, through platforms such as FalconX, Galaxy Digital, and BitGo. Bitmine previously announced that it had increased its holdings by 317,000 ETH within a week, bringing its total holdings to 1.15 million.