<h2><strong>关键要点</strong></h2>
<p><em>以太坊价格突破 $4,770，机构资金流入、鲸鱼积累和创纪录的网络活动推动了其采用。市场观察者现在关注向 $5,500 的突破。</em></p>
<p>以太坊 [ETH] 在 2025 年第三季度以全新的力量进入，需求推动其价格超过 $4,000。</p>
<p>曾被视为机构对比特币 [BTC] 的次要选择，ETH 现在在主要投资者眼中与旗舰加密货币并肩而立。</p>
<h2><strong>BitMine 大举押注以太坊</strong></h2>
<p>一个典型的例子是汤姆·李的 BitMine，该公司稳步扩大其以太坊持有量，现已超过 150 万 ETH，现值约为 71.9 亿美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Arkham_BitMine.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Arkham_BitMine.webp"/></p>
<p>来源：Arkham/X</p>
<p>该公司的激进策略包括最近的一笔 4500 万美元的购买，向其已经庞大的国库中增加了近 9,500 ETH。</p>
<p>尽管最近以每个代币约 $4,735 的价格买入尚未产生收益，但 BitMine 之前的收购，平均价格为 $3,492，使其拥有近 19 亿美元的未实现利润。</p>
<h2><strong>以太坊全面行动</strong></h2>
<p>截至发稿时，ETH 的交易价格为 $4,771.74，反映出过去 24 小时上涨了 0.82%，而过去一个月则大幅上涨了 31%，根据 CoinMarketCap 的数据。</p>
<p>此外，机构兴趣支持了这一反弹，根据 Farside Investors 的数据，8 月 23 日以太坊 ETF 录得资金流入 3.377 亿美元。</p>
<p>链上数据也描绘出乐观的前景。</p>
<p>Token Terminal 的数据显示，以太坊 Layer 1 活动创下历史新高，日交易量和活跃地址均达到前所未有的水平。</p>
<h2><strong>比特币鲸鱼加入 ETH 推动</strong></h2>
<p>进一步增强看涨势头的是，一位主要的比特币鲸鱼将数十亿资金从 BTC 转移到 ETH。</p>
<p>根据 Lookonchain 的数据，该交易者出售了 4,000 BTC（价值 4.6 亿美元）以积累 179,448 ETH，价值约 8.06 亿美元，平均价格为 $4,490。</p>
<p>他的头寸包括 135,265 ETH 的多头合约（价值 5.81 亿美元），未实现收益为 5800 万美元，依据 Lookonchain 的数据。</p>
<p>此外，他还将另外 300 BTC（价值 3490 万美元）转换为 ETH，使现货持有量达到 122,226 ETH，平均价格为 $4,377，已经显示出 4200 万美元的纸面利润。</p>
<p>这一激增更具吸引力的是，以太坊的需求增长并未导致高交易费用。</p>
<h2>短期挑战依然存在</h2>
<p>然而，尽管活动创下历史新高，燃气费用仍保持在历史低位，反映出以太坊扩容升级的成功。</p>
<p>这种效率增强了投资者信心，分析师关注向 $5,500 的潜在突破。</p>
<p>事实上，网络处理大量交易量的能力以低成本增强了其效用，并巩固了其作为长期价值储存的地位。</p>
<p>借助这一势头，BitMine Immersion Technologies 最近扩大了其市场股票发行规模至 200 亿美元，使总批准额达到 245 亿美元。</p>
<p>部分资金将用于以太坊的积累，此举表明机构越来越将 ETH 视为与比特币并列的核心持有资产。</p>

ETHE

<p>BitMine 已经积累了超过 150 万个 ETH，价值约 71.9 亿美元，反映出机构对以太坊日益增长的兴趣。该公司最近以 4500 万美元购买了近 9500 个 ETH，进一步增加了其显著的未实现利润。以太坊的价格已飙升至 4771.74 美元，网络活动创下新高，机构流入也显著，包括 3.377 亿美元流入以太坊 ETF。一位显著的比特币鲸鱼也将资金转移至 ETH，进一步推动了需求。尽管面临挑战，以太坊的扩容升级使交易费用保持低位，增强了其作为长期投资的吸引力</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><p><em>Ethereum climbed above $4,770 as institutional inflows, whale accumulation, and record network activity boosted adoption. Market watchers now eye a breakout toward $5,500.</em></p>
<div class="lb-trans"><p><em>以太坊价格突破 $4,770，机构资金流入、鲸鱼积累和创纪录的网络活动推动了其采用。市场观察者现在关注向 $5,500 的突破。</em></p>
</div><p>Ethereum [ETH] stepped into Q3 2025 with fresh strength as demand pushed its price above the $4,000 mark.</p>
<div class="lb-trans"><p>以太坊 [ETH] 在 2025 年第三季度以全新的力量进入，需求推动其价格超过 $4,000。</p>
</div><p>Once seen as a secondary choice to Bitcoin [BTC] among institutions, ETH has now secured its place alongside the flagship cryptocurrency in the eyes of major investors.</p>
<div class="lb-trans"><p>曾被视为机构对比特币 [BTC] 的次要选择，ETH 现在在主要投资者眼中与旗舰加密货币并肩而立。</p>
</div><h2><strong>BitMine bets big on Ethereum</strong></h2>
<div class="lb-trans"><h2><strong>BitMine 大举押注以太坊</strong></h2>
</div><p>A prime example is Tom Lee’s BitMine, which has steadily expanded its Ethereum holdings to more than 1.5 million ETH, now valued at roughly $7.19 billion.</p>
<div class="lb-trans"><p>一个典型的例子是汤姆·李的 BitMine，该公司稳步扩大其以太坊持有量，现已超过 150 万 ETH，现值约为 71.9 亿美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Arkham_BitMine.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/08/Arkham_BitMine.webp"/></p>
<p>Source: Arkham/X</p>
<div class="lb-trans"><p>来源：Arkham/X</p>
</div><p>The firm’s aggressive strategy included a recent $45 million purchase, adding nearly 9,500 ETH to its already sizable treasury.</p>
<div class="lb-trans"><p>该公司的激进策略包括最近的一笔 4500 万美元的购买，向其已经庞大的国库中增加了近 9,500 ETH。</p>
</div><p>While the latest buy-in at around $4,735 per token had not produced gains yet, BitMine’s earlier acquisitions, averaging $3,492, left it with close to $1.9 billion in unrealized profit.</p>
<div class="lb-trans"><p>尽管最近以每个代币约 $4,735 的价格买入尚未产生收益，但 BitMine 之前的收购，平均价格为 $3,492，使其拥有近 19 亿美元的未实现利润。</p>
</div><h2><strong>Ethereum in full action</strong></h2>
<div class="lb-trans"><h2><strong>以太坊全面行动</strong></h2>
</div><p>This coincided with ETH trading at $4,771.74 at press time, reflecting a 0.82% gain in the past 24 hours and a remarkable 31% surge over the last month, according to CoinMarketCap.</p>
<div class="lb-trans"><p>截至发稿时，ETH 的交易价格为 $4,771.74，反映出过去 24 小时上涨了 0.82%，而过去一个月则大幅上涨了 31%，根据 CoinMarketCap 的数据。</p>
</div><p>Moreover, institutional interest backed the rally, with Ethereum ETFs recording inflows of $337.7 million on the 23rd of August, according to Farside Investors.</p>
<div class="lb-trans"><p>此外，机构兴趣支持了这一反弹，根据 Farside Investors 的数据，8 月 23 日以太坊 ETF 录得资金流入 3.377 亿美元。</p>
</div><p>On-chain data also painted a bullish picture.</p>
<div class="lb-trans"><p>链上数据也描绘出乐观的前景。</p>
</div><p>Token Terminal figures showed Ethereum Layer 1 activity at record highs, with both daily transactions and Active Addresses hitting unprecedented levels.</p>
<div class="lb-trans"><p>Token Terminal 的数据显示，以太坊 Layer 1 活动创下历史新高，日交易量和活跃地址均达到前所未有的水平。</p>
</div><h2><strong>Bitcoin whale joins the ETH push</strong></h2>
<div class="lb-trans"><h2><strong>比特币鲸鱼加入 ETH 推动</strong></h2>
</div><p>Adding to the bullish momentum, a major Bitcoin whale has shifted billions from BTC into ETH.</p>
<div class="lb-trans"><p>进一步增强看涨势头的是，一位主要的比特币鲸鱼将数十亿资金从 BTC 转移到 ETH。</p>
</div><p>According to Lookonchain, the trader sold 4,000 BTC ($460 million) to accumulate 179,448 ETH worth about $806 million at an average price of $4,490.</p>
<div class="lb-trans"><p>根据 Lookonchain 的数据，该交易者出售了 4,000 BTC（价值 4.6 亿美元）以积累 179,448 ETH，价值约 8.06 亿美元，平均价格为 $4,490。</p>
</div><p>His position included 135,265 ETH in long contracts ($581 million) with $58 million in unrealized gains, per Lookonchain.</p>
<div class="lb-trans"><p>他的头寸包括 135,265 ETH 的多头合约（价值 5.81 亿美元），未实现收益为 5800 万美元，依据 Lookonchain 的数据。</p>
</div><p>On top of that, he converted another 300 BTC ($34.9 million) into ETH, bringing spot holdings to 122,226 ETH at an average of $4,377—already showing $42 million in paper profits.</p>
<div class="lb-trans"><p>此外，他还将另外 300 BTC（价值 3490 万美元）转换为 ETH，使现货持有量达到 122,226 ETH，平均价格为 $4,377，已经显示出 4200 万美元的纸面利润。</p>
</div><p>What makes this surge even more compelling is that Ethereum’s growing demand has not come at the cost of high transaction fees.</p>
<div class="lb-trans"><p>这一激增更具吸引力的是，以太坊的需求增长并未导致高交易费用。</p>
</div><h2>Short-term challenges persist</h2>
<div class="lb-trans"><h2>短期挑战依然存在</h2>
</div><p>However, despite record-breaking activity, gas prices stayed at historic lows, reflecting the success of Ethereum’s scaling upgrades.</p>
<div class="lb-trans"><p>然而，尽管活动创下历史新高，燃气费用仍保持在历史低位，反映出以太坊扩容升级的成功。</p>
</div><p>This efficiency strengthened investor confidence, with analysts eyeing a potential breakout toward $5,500.</p>
<div class="lb-trans"><p>这种效率增强了投资者信心，分析师关注向 $5,500 的潜在突破。</p>
</div><p>In fact, the network’s ability to handle massive transaction volumes at low costs enhanced its utility and reinforced its position as a long-term store of value.</p>
<div class="lb-trans"><p>事实上，网络处理大量交易量的能力以低成本增强了其效用，并巩固了其作为长期价值储存的地位。</p>
</div><p>Capitalizing on this momentum, BitMine Immersion Technologies recently moved to expand its at-the-market equity offering to $20 billion, bringing total approvals to $24.5 billion.</p>
<div class="lb-trans"><p>借助这一势头，BitMine Immersion Technologies 最近扩大了其市场股票发行规模至 200 亿美元，使总批准额达到 245 亿美元。</p>
</div><p>With part of these funds set aside for Ethereum accumulation, the move signals how institutions are increasingly positioning ETH alongside Bitcoin as a core holding.</p>
<div class="lb-trans"><p>部分资金将用于以太坊的积累，此举表明机构越来越将 ETH 视为与比特币并列的核心持有资产。</p>
</div>

BitMine 积累了 150 万枚以太坊：为什么机构更倾向于选择以太坊而不是比特币