Bitmine's (BMNR) ETH buys are catching Strategy's bitcoin (BTC) accumulation pace
CoinDesk
Bitmine Immersion Technologies is rivaling Strategy's weekly crypto accumulation pace after a record purchase of $234 million in ether.Summary
Bitmine Immersion Technologies (BMNR), chaired by Tom Lee, has significantly increased its ether (ETH) accumulation, purchasing $234 million last week. This rate now rivals the baseline weekly bitcoin (BTC) purchases of Strategy (MSTR), excluding Strategy’s anomalous stock-fueled spikes. Bitmine currently holds over 5 million ETH, representing 4.21% of the circulating supply, and utilizes staking to generate substantial annualized revenue. While both firms employ similar capital market strategies to fund their acquisitions, Bitmine's persistent buying through market volatility suggests it is establishing itself as a consistent corporate buyer of digital assets.
(Source：CoinDesk)