BitMine Immersion Technologies (BMMR), the Nasdaq-listed digital asset treasury firm led by Fundstrat’s Tom Lee, continued to accumulate tokens as crypto prices fell.
The firm added over 150,000 ETH through last week, according to a Tuesday press release. The purchase brought the company’s total holdings to 1,866,974 tokens, worth roughly $8.1 billion at current prices, with around $635 million in cash for further acquisitions, the firm said.
BMNR was slightly down pre-market at $43, and remained 35% lower than its mid-August peak as ETH pulled back from record prices.
BitMine, which pivoted to an ETH strategy in June, aims to corner 5% of the second-largest cryptocurrency’s supply and generate yield by staking the tokens. The firm currently ranks as the largest listed ETH treasury firm and only trails the bitcoin-focused Strategy’s $71 billion BTC holdings among all crypto treasury firms.
Finance, Ethereum Treasury, Bitmine, Thomas Lee, NewsRead More
You might also be interested in reading God Candle Coming For XRP Price? Crypto Analyst Reveals His Target.
