Bitmine Just Bought $69M in Ethereum — Tom Lee Is Closing In on 5% of All ETH

Bitmine Immersion Technologies has stepped up its Ethereum accumulation again, adding tens of thousands of tokens as it closes in on its long-standing 5% target.

The latest purchase is another step in the ramp-up of Bitmine ETH treasury as the company continues to make the cryptocurrency its main balance-sheet asset.

Bitmine Just Bought Another $69M in Ethereum At the time, Bitmine’s crypto, cash, marketable securities, and “moonshots” were worth $15.7 billion in total as of the September 8 update. Bitmine’s reporting included $593 million in cash and marketable securities.

Bitmine was more liquid than Ethereum despite the latter having a much larger position. How Much ETH Did Bitmine Buy? Bitmine purchased 28,086 ETH the prior week.