Bitmine Boosts Ether Holdings as Tom Lee Blames AI Fears for Crypto Dip

Bitmine Immersion Technologies has added another 12,535 ether to its corporate treasury, extending its uninterrupted weekly buying streak as the company approaches its ambitious goal of controlling 5% of Ethereum’s total supply. Bitmine, chaired by Fundstrat co-founder Tom Lee, announced Monday that it now holds 6,041,481 ETH, worth nearly $14.5 billion at a recent ether price near $2,400. The company’s combined cryptocurrency holdings, cash, marketable securities, and strategic investments total $15.1 billion, down from $16.2 billion a week earlier. The latest acquisition, worth approximately $29.6 million at the company’s reported ETH price, follows a nearly identical purchase of 12,532 ETH the previous week. With more than 6 million ETH, BitMine’s latest disclosed purchase reinforces its position as the world’s largest publicly traded ether treasury.

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