BitMine Immersion Technologies, the Tom Lee-chair former bitcoin miner turned Ethereum treasury company, continues with its Monday announcements about major ETH acquisitions completed over the previous week.
At the same time, the world’s largest corporate holder of any cryptocurrency, Michael Saylor’s Strategy, decided to skip a week as it raises funds for further accumulations.
BitMine Keeps Buying
The new press release shared by the firm said it acquired 101,745 ETH in the past week, mostly by direct sales from the Ethereum Foundation, valued at almost $240 million at today’s prices. This raised its overall Ethereum fortune to more than 5.180 million tokens. In addition, BitMine still owns 200 BTC, a $200 million stake in Beast Industries, a $83 million stake in Eightco Holdings, and total cash of $700 million.
With the latest Ethereum purchase, BitMine now owns 4.29% of the entire asset supply of roughly 120.7 million tokens. As with all other previous purchases announced by Tom Lee, the prominent crypto individual continues to be highly hopeful that the crypto winter has passed and ETH could be on the verge of a more profound rally.
“Crypto Spring, in our view, has commenced and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen. We believe the potential passage, or even failure, of the CLARITY Act confirms the arrival of crypto spring. As for the upcoming drivers of crypto gains, Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains,” said Lee.
He doubled down that the second-largest blockchain network remains “the most widely used and reliable” such entity for tokenization and is “well suited for the upcoming rise of agentic commerce.” The company he chairs remains a firm believer that “ETH will be viewed as both a store of value and a unit of exchange.”
Strategy Misses a Week
The other big corporate buyer of any cryptocurrency, Strategy, also tends to announce major acquisitions on Mondays, but its co-founder and Bitcoin champion, Michael Saylor, noted yesterday that the company has missed a week. However, he added that Strategy will return to its familiar path next week as it continues to raise funds for more BTC purchases and it prepares for tomorrow’s Q1 earnings report.
Recall that MSTR’s price ended April with a massive surge after snapping a 9-month losing streak.
The post Strategy Hits Pause Button, but BitMine Keeps Buying Ethereum (ETH) appeared first on CryptoPotato.
The company now holds almost 5.2 million ETH. AA News, Crypto News, social, Bitmine Immersion Technologies, Ethereum (ETH) Price, MicroStrategy
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.