BitMine Immersion Technologies · Ethereum · Decrypt
'Attractive Opportunity': Tom Lee's BitMine Publishes $151 Million in Ethereum Amid Price Dip
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BitMine Immersion Technologies (BMNR) felt that the falling price of Ethereum was too compelling to ignore, adding $151 million worth, or 71,672 ETH last week as the price of the second-largest cryptocurrency slipped below $2,200.
Key facts
- BitMine Immersion Technologies (BMNR) felt that the falling price of Ethereum was too compelling to ignore, adding $151 million worth, or 71,672 ETH last week as the price of the second-largest
- The firm’s latest weekly addition comes one week after it telegraphed a slowdown in its ETH purchases, scaling back last week to add only $62 million worth to its stash, which now sits at nearly 5.28
- Shares in the firm are now trading around $18.80, down 18% in the last month and nearly 42% in the last six months
- Meanwhile, ETH is trading over 57% below its August all-time high of $4,946
Summary
BitMine Immersion Technologies added more than 71,000 ETH last week as ETH slid by 9%. Shares in the firm (BMNR) are down more than 5% since the opening bell on Monday. BitMine now holds nearly 5.28 ETH, valued around $11.1 billion. The firm’s latest weekly addition comes one week after it telegraphed a slowdown in its ETH purchases, scaling back last week to add only $62 million worth to its stash, which now sits at nearly 5.28 million ETH—or about $11.1 billion worth.