BitMine Doubles Down on Ethereum, Purchases $70M Worth of BMNR Shares

Tom Lee's BitMine Technologies has made significant moves in expanding its Ethereum holdings. In the latest week, the company purchased an additional 7,391 ETH, bringing its total to 5,805,238 ETH.

This acquisition represents approximately 4.8% of Ethereum's stated 120.7 million supply and leaves BitMine close to its long-term target of holding 5% of all ETH.

The company has also continued repurchasing BMNR shares as Chairman Tom Lee highlighted Ethereum's recent strength against Bitcoin.