Summary
- Bitmain said it bought an additional 138,452 Ethereum (ETH) last week.
- Bitmain currently holds a total of 3,864,951 Ethereum, which it said indicates an expansion of its asset portfolio.
- Chairman Tom Lee said the increased pace of buying reflects confidence in the market outlook.
Bitmain, the world's largest holder of Ethereum (ETH), said it bought an additional 138,452 Ethereum last week.
On the 8th, Bitmain disclosed its asset composition and weekly purchase status as of that day via its official X (formerly Twitter). The company currently manages a cryptocurrency and high-risk investment portfolio totaling $13.2 billion, and its Ethereum holdings were tallied at 3,864,951. It holds 192 Bitcoin (BTC), and its assets also include a $36 million stake in Nasdaq-listed Eitco Holdings (ORBS) and $1 billion in cash.
Bitmain has been steadily acquiring 60,000–110,000 ETH in recent weeks, and this week the scale of purchases appears to have expanded further.
Tom Lee (Thomas Lee), Bitmain's chairman, said, "We bought 138,452 Ethereum just last week," adding, "The increased pace of buying reflects confidence in the market outlook."
In his December chairman's message released the same day, he said, "The crypto supercycle is still in effect," and "Bitmain is serving as a bridge connecting Wall Street with the Ethereum and decentralized finance (DeFi) ecosystem."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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