BitMine Boosts Ethereum Holdings by $389M

BitMine Immersion Technologies makes a significant investment in Ethereum, purchasing over 110,000 ETH, valued at $389 million. This move comes as Ethereum experiences price fluctuations, dropping 15% in the past two weeks but rebounding slightly. BitMines Chairman, Tom Lee, explains the strategic purchase, aiming to acquire 5% of Ethereums total supply. The companys stock, BMNR, increases by 5%, and Lee highlights growing institutional interest in blockchain technology, particularly for tokenizing assets, supporting Ethereums long-term growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.