#binance #hype #zec #near
02/12/25 05:09 UTC-04

BitMine Adds 23,773 ETH Worth $69.9 Million to Its Ethereum Treasury

Over the past three days, BitMine Immersion Technologies purchased 23,773 ETH (~$69.9 million) amid the current market weakness. The transactions were recorded by Lookonchain.

On December 1, the company increased its holdings by 7,080 ETH, spending $19.8 million. On November 29, the same wallet added 16,693 ETH for $50.1 million.

These actions continue the trend from last week, when BitMine acquired 96,800 ETH for approximately $273.2 million.

The total amount of Ethereum (ETH) held by BitMine Immersion Technologies has risen to 3.73 million ETH ($10.48 billion).

In this regard, the corporation is the leader among treasuries holding the second-largest cryptocurrency as a reserve asset, according to Strategic ETH Reserve.

It controls 3.08% of all ETH in circulation. BitMine has reached 62% of its goal to accumulate 5% of the total ETH supply.

At current prices, the company’s position is in the red, as its average purchase price per ETH is $3008.

Declining Optimism

On November 27, BitMine Immersion Technologies Chairman Tom Lee softened his aggressive forecast for Bitcoin’s rise to $250,000 by year-end, lowering the target to $100,000.

Lee announced this target at the beginning of 2024 and maintained it in public statements up until early October.

See also: "Bitcoin rises slightly to $87K after sharp selloff"

#BitMine #Ethereum (ETH) #Reserve

Editor: Alyona Nabok
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04/06/26 06:21 UTC-04

Bitmine’s Ethereum Bet Nears $9 Billion Loss as Ethereum Falls Below $1,800

Shares of the company led by Tom Lee fell another 5.9% on Wednesday, dropping below $17 and extending their decline to 28% since the beginning of May. The stock has now fallen below its February lows to the lowest level since the company announced its shift to an Ethereum treasury strategy in 2025.