Tom Lee’s BitMine adds another $88 million worth of ETH to growing treasury
BitMine, led by Tom Lee, reportedly acquired an additional $88 million in ETH, continuing its aggressive strategy to accumulate the cryptocurrency.Summary
BitMine, the Ethereum treasury firm co-founded by Tom Lee, reportedly added $88 million worth of ETH to its holdings on Monday, acquiring 29,462 ETH from BitGo and Kraken, according to onchain analyst Lookonchain, though these transactions await official confirmation.
This follows BitMine's official disclosure that it bought 98,852 ETH the previous week. The NYSE-listed company now holds 4,066,062 ETH, purchased at an average price of $2,991, valuing its treasury at about $12 billion currently. BitMine's strategy is driven by a mission to capture 5% of Ethereum's circulating supply, based on the conviction that ETH will reshape global finance.
Chairman Tom Lee stated they are making rapid progress toward the "alchemy of 5%" and leveraging their substantial holdings to bridge Wall Street's move onto the blockchain via tokenization. On Monday, BitMine's stock (BMNR) closed down slightly at $31.09, while Ethereum traded around $2,951.
(Source：The Block)