Tom Lee's Bitmine Continues Aggressive Ethereum Stash Expansion

Tom Lee's Bitmine Immersion Technologies continues to expand its Ethereum treasury. Over the past week, the company added nearly 10,000 ETH to its holdings.

This purchase was slightly larger than the previous week but significantly lower than many completed just a month ago. In June, Bitmine bought over 52,000 ETH.

The firm's total holdings now stand at 5,787,414 ETH, worth more than $11 billion at current prices. However, its average buying price is nearly twice as high, leaving it deep in the red.

Bitmine aims to bring its total stash to 5% of Ethereum's total supply. Currently, it controls less than 0.2% of that target but remains committed to accumulating Ethereum.