Ethereum news: Bitmine (BMNR) buys 65,341 ETH worth $138 million betting on crypto slump ending
CoinDesk
Bitmine purchased $138 million worth of ETH, increasing its holdings to over 4.66 million tokens, anticipating the end of the crypto slump.Summary
Bitmine (BMNR), led by Thomas Lee, has continued its buying streak, acquiring 65,341 ETH worth approximately $138 million. This purchase increases the firm’s total ETH holdings to over 4.66 million tokens, representing 3.86% of the circulating supply. Bitmine has accelerated its buying pace for three consecutive weeks, also increasing its cash reserves to $1.1 billion. Chairman Thomas Lee believes Ethereum is nearing the end of a “mini-crypto winter” and that the broader crypto market downturn is coming to a close, despite currently facing an estimated $7 billion in unrealized losses on its ETH purchases.
(Source：CoinDesk)