#binance #hype #zec #near
10/02/26 00:15 UTC-04

Over the past week, BitMine purchased 40,613 ethers

BitMine Immersion Technologies significantly increased its ETH holdings during last week’s market correction.

On Monday, the company reported that 40,613 ethers were purchased over the week, bringing the total volume of assets to 4.326 million ETH, which at current prices amounts to approximately $8.8 billion.

A significant portion of its assets, namely 2,873,459 ETH, is staked on the Ethereum network. They are locked to ensure blockchain security, and in return the company receives rewards in the form of additional ether, providing it with a stable income.

BitMine’s treasury strategy has been repeatedly criticized. However, BitMine chairman Tom Lee, co-founder and chief investment officer of Fundstrat Global Advisors, stated that the company is structurally designed to track the price of ether. As a result, the performance of its portfolio and shares worsens during larger market downturns and improves when the ETH price recovers.

This volatility has been reflected in BitMine’s shares. Over the past month, they have fallen by more than 31%, and over the past six months — by approximately 60%.

See also: "Crypto whales took advantage of the market drop and began buying bitcoins"

#BitMine #Ethereum (ETH) #Buy

Editor: Alyona Nabok
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