BitMine Immersion Technologies, led by Tom Lee, made its largest weekly Ethereum acquisition this year, viewing the recent market downturn as merely superficial.
Despite prior caution from its chairman, crypto firm Bitmine recently made its largest-ever Ether purchase, signaling a strategic move to buy the dip.
Bitmine has substantially increased its Ethereum holdings to 5.54 million ETH, with 4.7 million staked, moving closer to its ambitious 5% supply target.
BitMine is issuing preferred shares with a 9.5% dividend to fund a strategic expansion of its Ethereum holdings, mirroring MicroStrategy's Bitcoin playbook.
Bitmine's chairman projects an astounding 50x surge for Ether, citing AI integration and corporate validators as key drivers for its future valuation.
Tom Lee's BitMine is set to raise $300 million through a preferred stock offering to establish a staking-focused Ethereum treasury, aiming for fixed cash dividends.
Bitmine is set to issue dividend-paying preferred shares, mirroring MicroStrategy's strategy, as Ether's price dips to a 14-month low below $1,750.
Bitmine, a prominent firm with substantial Ethereum holdings, is issuing preferred shares offering a 9.5% yield, mirroring MicroStrategy's capital acquisition approach.
Tom Lee's Bitmine is nearing a $9 billion loss on its Ethereum holdings as ETH falls below $1,800, impacting the firm's share value.
Bitmine has acquired an additional $52 million in Ether, bringing it 90% closer to its goal of holding 5% of the total circulating ETH supply.
Investment firm BitMine, led by Tom Lee, has reportedly purchased $52 million in Ethereum, indicating a strategic shift from Bitcoin.
Ethereum treasury firm Bitmine significantly reduced its weekly Ether acquisitions, purchasing $53 million worth last week, a 75% drop from previous levels.