According to Criptonoticias, Bitmine Immersion Technologies, a treasury firm focused on ether (ETH), now holds 3% of the total ETH supply after acquiring 69,822 ETH last week. The company's total ETH holdings now amount to 3,629,701 ETH, valued at approximately $10.5 billion. The purchase was made during a recent market correction, with the firm citing deteriorating liquidity and low technical price indicators as factors. CEO Tom Lee remains bullish on ETH, projecting it could reach $10,000 and marking the start of a 'super cycle' for the asset. Bitmine also holds 192 BTC and $800 million in uncommitted cash, and is backed by investors including Cathie Wood of ARK and Galaxy Digital.
Bitmine Holds 3% of Total ETH Supply Amid Market Downturn
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