BitMine Adds 12,535 ETH to Treasury as Tom Lee Cites Macro and Tech Headwinds

BitMine Immersion Technologies (BMNR) said on Monday its crypto, cash, and equity holdings were worth $15.1 billion on October 18, down from $16.2 billion a week earlier. Most of that total is Ethereum (ETH). BitMine marked its Ether at $2,365 per token, using Coinbase prices, against $2,544 in the prior update. That is its lowest weekly mark since the update for August 16, according to its SEC filings. The company bought 12,535 ETH over the week, taking its treasury to 6,041,481 tokens. That equals 4.9% of the 122.1 million ETH in supply, short of BitMine’s 5% goal. The buy nearly matched the 12,532 ETH BitMine added in the week to October 11.

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