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BitMine’s monolithic ETH accumulation accelerated past week, adding 110,288 Ether to its $12.5 cardinal treasury arsenic it targets 5% of the full supply.
BitMine’s integer treasury accumulation is showing nary signs of slowing down, with its latest week of Ether buying marking a 34% summation from the week before.
BitMine Immersion Technologies announced the acquisition of 110,288 Ether (ETH) connected Monday, bringing its full to 3,505,723 ETH astatine an mean acquisition terms of $3,639 per token.
As portion of the announcement, BitMine’s president Tom Lee said the caller ETH terms dip presented an charismatic opportunity” for the firm, arsenic helium went connected to item Ether adoption happening connected Wall Street:
“To me, it is evident that Wall Street is precise funny successful tokenizing assets onto the blockchain, creating greater transparency and unlocking caller worth for issuers and investors. This is the cardinal cardinal communicative and supports our presumption that Ethereum is simply a ace rhythm communicative implicit the adjacent decade.”
Source: BitMine BitMine Immersion Technologies, which initially started arsenic a cryptocurrency mining company, is present the largest Ethereum treasury company, with its full ETH holdings presently valued astatine astir $12.5 billion.
The steadfast has outlined the extremity of owning 5% of the full 120,696,594 ETH supply, and its latest acquisition takes its tally up to 2.9%.
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Tom Lee, who is besides the co-founder of fiscal probe steadfast Fundstrat, is unsurprisingly highly bullish connected the terms imaginable of ETH. In mid-October, with little than 3 months near successful the year, Lee tipped the price to deed betwixt $10,000 and $12,000 earlier the extremity of 2025.
At the clip of writing, ETH is presently trading astatine $3,561, down 13.4% implicit the past 2 weeks and 4.7% successful the past 30 days. At existent levels, BitMine’s mammoth treasury is successful the red, and the terms needs a 180% pump betwixt present and the extremity of December to deed Lee’s $10,000 prediction.
Meanwhile, BitMine’s stock BMNR stormed the marketplace successful 2025, surging by implicit 400% year-to-date to deed $41.15 astatine the clip of writing.
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