Bitcoin Mining Legend Chun Wang Rebuys ETH at 14% Discount After $18.5 Million Sale

F2Pool co-founder Chun Wang, known on X as Satofishi, bought 5,246 ETH worth $10.78 million over the past two days at an average price of $2,054, according to Lookonchain and Arkham data. This week, ether traded about 14% lower than on the day of his previous sale, allowing him to capitalize on the price dip.

Recent Transactions

On Nov. 5, with ether trading near $2,400, Wang sold 6,200 wrapped staked ETH (wstETH) for $18.5 million in USDC. He then withdrew 5,246 ETH from Binance hot wallets in two transfers and sent 3,996 ETH to Lido, the largest liquid staking protocol on Ethereum.

Crypto Pioneer

Wang entered crypto in 2013 by arbitraging Bitcoin between overseas exchanges and China's Taobao. He co-founded F2Pool in 2013, which became one of China's first Bitcoin mining pools. In 2015, he famously bought a condo in Pattaya for 2,900 BTC and later sold it for 7 BTC as Bitcoin's price surged.

In 2025, Wang funded and commanded Fram2, the first crewed spaceflight over Earth's polar regions, on a SpaceX Crew Dragon. F2Pool also mined ether until Ethereum moved to proof-of-stake in September 2022, after which Wang launched stakefish, one of Lido's first node operators.

Market Context

Ether is down more than 15% since the start of the month amid outflows from spot ETFs, according to SoSoValue. At press time, ETH is trading at $2,020. Wang's recent purchase leaves about $7.7 million from the Nov. 5 sale still in USDC, indicating he may continue accumulating if prices remain favorable.