Crypto
Bitmine Adds 28k Ethereum to Holdings Amid Fluctuating Price
Bitmine has made another significant purchase of Ethereum (ETH), buying 28,086 ETH worth around $69.44 million this week. This latest acquisition brings Bitmine's total holdings to 5,929,198 ETH valued at approximately $14.66 billion, representing about 4.9% of Ethereum's 122 million token supply.
Ethereum's price has been fluctuating, trading between $2,442.98 and $2,505.13 over the past 24 hours. It currently trades near $2,492 after recovering from a low of $2,442.98.
Tom Lee, Chairman of Bitmine, connects the company's stock performance with recent crypto market gains, stating that four Russell 1000 crypto-related stocks have seen significant growth since June 30. Bitmine ranks fourth among these names, gaining 99% during this period.