Derived from DL News, BitMine Immersion, a Bitcoin miner turned treasury company, has increased its Ethereum holdings to 3% of the total token supply after purchasing an additional $200 million worth of ETH. The firm's chair, Tom Lee, stated the move reflects an asymmetric risk/reward scenario, with Ethereum currently trading near his previously projected downside target of $2,500. BitMine's total Ethereum holdings now exceed $10 billion, representing over half of its 5% ownership goal.
Tom Lee Buys Ethereum Dip, BitMine Holdings Reach 3% of Total Supply
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