Bitmine's ETH Buying Spree Continues Amid Bullish Signal from Tom Lee

Bitmine (BMNR) has continued to buy Ethereum (ETH), despite the recent decline in its price. This move comes as Tom Lee, a well-known cryptocurrency analyst, stated that the ETH-BTC ratio is sending a bullish signal.

The ETH-BTC ratio has been steadily increasing over the past few months, and according to Tom Lee, this trend is indicative of a potential bull run for Ethereum. Lee emphasized that the ratio's current levels are 'highly correlated' with previous periods of growth for the cryptocurrency.

Bitmine, a company involved in cryptocurrency mining, has been actively accumulating ETH over the past few months. The exact amount of ETH purchased by Bitmine is not disclosed, but its actions seem to align with Tom Lee's bullish prediction.