BitMine Immersion Buys Ether Dip, Adds 110K ETH To Treasury

BitMine Immersion Technologies, led by Fundstrat’s Thomas Lee, bought 110,288 ETH during last week’s market dip, spending nearly $400 million.

The purchase increased its total Ethereum holdings to over 3.5 million tokens, or roughly 2.9% of the total supply. Despite a 30% fall in its stock price since October, BitMine’s treasury now totals $13.2 billion, second only to Michael Saylor’s Strategy.

Lee said the firm bought 34% more ETH than last week, using the dip as a buying opportunity to expand long-term digital asset reserves.

You need to login in order to Like