Bitmine adds 101,745 ETH as holdings hit 5.18m tokens
The company valued the position at $2,336 per ETH and said the holdings equal about 4.29% of the total ETH supply.
The company said its crypto, cash, and other listed holdings totaled $13.1 billion. That figure included 5.18 million ETH, 200 BTC, $700 million in cash, a $200 million stake in Beast Industries, and an $83 million stake in Eightco Holdings.
Tom Lee says ETH buying pace continued
Chairman Thomas “Tom” Lee said Bitmine acquired 101,745 ETH in the past week. He described the purchase as part of the company’s ongoing accumulation strategy.
Lee also said Bitmine had kept a faster ETH buying pace for four straight weeks. He stated that ETH was in the “final stages” of a “mini-crypto winter,” while linking the strategy to Ethereum’s role in tokenization and public blockchain use.
Meanwhile, Bitmine reported 4,362,757 staked ETH as of May 3. The company valued the staked position at about $10.2 billion, based on the same ETH price of $2,336.#U.S.SenatorsBarredfromTradingonPredictionMarkets
