Summary
- BitMine Technologies said it recently purchased an additional 202,037 Ethereum (ETH).
- The additional purchase amounts to about $828 million, bringing BitMine's Ethereum holdings to about 2.5% of the total circulating supply.
- BitMine said it plans to strengthen its position as a company centered on the Ethereum strategic reserve through this purchase.
BitMine Technologies reportedly purchased an additional 202,037 Ethereum (ETH).
On the 13th (local time), according to PR Newswire, Tom Lee, BitMine's chairman, said, "Due to large-scale liquidations over the past few days, the ETH price was excessively discounted relative to fundamentals," and "I purchased an additional 202,037 Ethereum." The size of this purchase is about $828 million.
As a result, BitMine now holds 3,032,188 ETH. That amounts to about 2.5% of Ethereum's total circulating supply.
BitMine said the purchase increases the share of ETH in its asset portfolio and that it plans to strengthen its position as a company centered on Ethereum strategic reserve (crypto treasury).
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
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