Bitmine Surpasses 5.8M ETH Holdings Amid Slowing Accumulation Pace

Bitmine Immersion Technologies has surpassed 5.8 million ETH, despite its latest purchase being significantly smaller than previous ones.

The company acquired another 7,391 ETH over the past week, bringing its total holdings to 5,805,238 tokens.

This acquisition was worth approximately $11.2 billion at a price of $1,928 per token.

Bitmine's accumulation pace has slowed down in recent weeks, with the company purchasing fewer ETH than it did earlier this summer.

Chairman Tom Lee remains bullish on Ethereum and the broader crypto market, despite the delay in voting on the CLARITY Act in the US and the Fed's expected next move.