BitMine Adds 12,535 ETH to Treasury as Tom Lee Cites Macro and Tech Headwinds
💰 BitMine Immersion Technologies reported a decrease in its crypto, cash, and equity holdings to $15.1 billion, primarily due to a drop in Ethereum prices, marking its lowest weekly value since August.
📉 The company acquired 12,535 ETH, bringing its total to over 6 million tokens, but still falling short of its 5% supply goal, while cash and marketable securities fell to $582 million for the fourth consecutive week.
🌍 Chairman Tom Lee linked the decline in crypto markets to a selloff in South Korean equities and concerns over AI funding, suggesting that investor risk appetite has diminished due to geopolitical tensions and economic factors.
#ETH #BMNRB
$BMNRB $ETH
💰 BitMine Immersion Technologies reported a decrease in its crypto, cash, and equity holdings to $15.1 billion, primarily due to a drop in Ethereum prices, marking its lowest weekly value since August.
📉 The company acquired 12,535 ETH, bringing its total to over 6 million tokens, but still falling short of its 5% supply goal, while cash and marketable securities fell to $582 million for the fourth consecutive week.
🌍 Chairman Tom Lee linked the decline in crypto markets to a selloff in South Korean equities and concerns over AI funding, suggesting that investor risk appetite has diminished due to geopolitical tensions and economic factors.
#ETH #BMNRB
$BMNRB $ETH