Market Flux Event
Bitmine Buys $81M in Ethereum, Reaches 97% of Accumulation Target as ETH Rallies 30%
Bitmine Immersion Technologies, the world's largest Ethereum treasury company, purchased 32,447 ether last week for approximately $81 million, its largest single-week acquisition since early July. The buy came as Ethereum surged roughly 30% on the week to trade near $2,500 to $2,514. The company now holds 5,847,611 ETH worth about $14.6 billion, equivalent to 4.8% of Ethereum's circulating supply of 120.7 million tokens, and sits at 97% of the ambitious accumulation target it set just over a year ago.
Total crypto, cash, and other investments at Bitmine stand at $14.9 billion. Shares of BMNR rose 4% on the news. Tom Lee, who is associated with the firm, said the upside move in ETH was overdue and predicted the asset could reach $62,000 over the long term, adding that the 30% weekly rally could signal a larger move ahead.
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Sources
- coindesk.comTom Lee's Bitmine buys $81 million of ETH in largest weekly haul since early July
- cryptopotato.comBitMine Nears Massive Ethereum Milestone as ETH Holdings Reach 5.85 Million
- Crypto PotatoBitMine Nears Massive Ethereum Milestone as ETH Holdings Reach 5.85 Million
- coinspress.comBitMine Adds 32,447 ETH as Ethereum Gains 30% Weekly to $2,514
- AshCryptoBREAKING: Tom Lee’s BitMine bought $81 Million worth of $ETH last week, its largest buy in 2 months. Tom Lee predicts ETH will hit $62,000 in the long term.
- The Block‘Upside move in ETH was overdue,’ Tom Lee says as Bitmine buys another 32,447 ether
- Yahoo FinanceBitmine Makes Biggest Ethereum Purchase Since Early July
- cryptobriefing.comBitmine hits 97% of its Ethereum target after latest buy
Show 4 more
- benzinga.comBitmine Buys $81 Million In Ethereum as BMNR Surges 4%: What's Going On?
- tokenpost.comBitmine Boosts Ethereum Holdings With $81M ETH Purchase
- cointelegraph.comBitmine extends 14-month ETH buying pace as Ether breaks above $2.5K
- decrypt.coBitmine Buys Another $81M in Ethereum as ETH Outperforms Bitcoin