Last week, Bitmine Immersion purchased 111,900 ETH, marking its largest acquisition since December last year, bringing its total holdings close to 5.4 million ETH. Chairman Tom Lee stated that the company is accelerating its ETH purchases to capitalize on price declines below $2,200 and aims to control 5% of the total ETH supply by the end of 2026. Bitmine currently holds a total of $12.3 billion in cryptocurrencies and cash, with over 4.7 million ETH staked, generating an annualized staking income of approximately $276 million.
Bitmine Immersion Buys 111,900 ETH, Largest Purchase Since December 2024
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Summary
Bitmine Immersion purchased 111,900 ETH last week, the largest ETH acquisition since December 2024. The firm now holds nearly 5.4 million ETH. Tom Lee stated the purchase was made to capitalize on ETH price weakness below $2,200. The company aims to control 5% of the ETH supply by 2026. Bitmine holds $12.3 billion in crypto and cash, with 4.7 million ETH staked, generating $276 million in annual earnings. ETH analysis indicates increasing accumulation by major players.
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