Ether (ETH) treasury news: BitMine bought the dip, now owns more than 4 million ETH

BitMine Immersion Technologies (BMNR), the ether treasury firm led by Fundstrat's Thomas Lee, announced it crossed the 4 million ETH milestone by acquiring 98,852 tokens last week. This purchase, valued around $300 million at Monday's prices, brings BitMine's total ETH holdings to 4,066,062 tokens, representing 3.37% of the current ETH supply. The firm maintained $1 billion in cash and its ETH treasury is valued at over $12 billion, making it the largest known ETH reserve among publicly traded companies. BitMine continued accumulating ETH steadily even as prices retreated, with last week's purchase occurring during a market slide where ETH dropped below $2,800 before rebounding above $3,000. Despite sitting on over $3 billion in unrealized losses, the firm remains on track toward its goal of owning 5% of the total ether supply.

(Source：CoinDesk)