BitMine bought an additional 110,000 Ethereum last week… holdings surpass 3,500,000
Summary
- BitMine (BitMine) announced it bought an additional 110,288 Ethereum last week, pushing its holdings past 3,500,000.
- BitMine's current Ethereum holdings amount to 2.9% of the total supply, and it said its goal is to secure 5% of the supply.
- Tom Lee mentioned that BitMine's high liquidity and ability to attract institutional investor capital are strengths.
BitMine, the world's largest Ethereum (ETH) reserve firm, was reported to have bought an additional 110,000 Ethereum last week.
BitMine said on the 10th (local time), "Last week we bought 110,288 Ethereum." Tom Lee (Tom Lee), chairman of BitMine, said, "The recent Ethereum price decline was an attractive opportunity, and we increased Ethereum purchases."
With this additional purchase, BitMine's Ethereum holdings have surpassed 3,500,000. This amounts to 2.9% of the total Ethereum supply. BitMine's goal is to secure 5% of the Ethereum supply.
BitMine also increased its cash holdings from $389,000,000 to $398,000,000, an increase of $10,000,000. Tom Lee said, "BitMine's high liquidity is attractive, and it continues to attract institutional investor capital."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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