BitMine Immersion Technologies Inc. (NYSE:BMNR) on Monday announced having purchased 138,452 Ethereum (CRYPTO: ETH) as BMNR attempts to stabilize after a steep multi-month decline.
Company Expands Crypto Treasury To More Than 3.86 Million ETH
According to a press release, BitMine now holds 3.86 million ETH, or more than 3.2% of the total supply, alongside $1 billion in cash and 193 Bitcoin (CRYPTO: BTC).
The company said its combined crypto, cash, and “moonshot” assets total $13.2 billion.
Chairman Thomas “Tom” Lee said the accelerating accumulation reflects confidence that Ethereum prices will strengthen on the back of multiple catalysts.
Lee pointed to the December …
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