Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion
CoinDesk
Bitmine Immersion acquired 111,942 ETH last week, marking its largest purchase this year as it takes advantage of recent price dips.Summary
Bitmine Immersion (BMNR) has significantly increased its Ethereum holdings, purchasing 111,942 ETH last week for approximately $237 million. This move contradicts earlier indications from chairman Tom Lee that the firm would slow its accumulation pace. Bitmine now holds nearly 5.4 million ETH, representing roughly 4.47% of the circulating supply, as it aims to reach a 5% target by the end of 2026. The firm cited the drop in ETH prices below $2,200 as an attractive buying opportunity. Additionally, Bitmine has staked 87% of its ETH holdings, generating about $276 million in annualized revenue.
(Source：CoinDesk)