Tom Lee's BitMine Kept Buying Ether, Added 110K Tokens to Holdings
Tom Lee's BitMine purchased 110,288 Ether tokens, increasing its total holdings to over 3.5 million ETH, or 2.9% of the supply.Summary
BitMine Immersion Technologies (BMNR), the Ethereum-focused digital asset treasury firm led by Thomas Lee, announced it continued buying Ether (ETH) last week, adding 110,288 tokens worth nearly $400 million at current prices. This purchase raised the company's total ETH holdings to over 3.5 million tokens, representing approximately 2.9% of the total ETH supply. Furthermore, BitMine increased its unencumbered cash balance to $398 million. Lee stated that the firm viewed the dip in ETH prices as a buying opportunity, acquiring 34% more ETH than the previous week. This steady accumulation is notable because many other digital asset treasuries have struggled to raise funds amid falling stock prices, often resorting to share buybacks or selling crypto. BitMine, despite its own stock falling over 30% since early October, holds the second-largest crypto treasury overall at $13.2 billion, trailing only Michael Saylor's firm.
(Source：CoinDesk)