Tom Lee’s Bitmine Bags 71K ETH In Biggest Weekly Buy Of The Year – Now Controls 4% Of Supply

Tom Lee-backed Bitmine Immersion Technologies (BMNR) announced on Monday that it added another 71,534 Ethereum (ETH) to its balance sheet over the past week, marking the company’s largest weekly accumulation this year. 

With its latest purchase, the company has now achieved more than 80% of its target to accumulate 5% of Ethereum’s circulating supply, bringing its holdings to 4.04%.

Its total crypto and investment portfolio is now valued at almost $12 billion. This includes 4.87 million ETH valued at $2,206 per token, 198 Bitcoin (BTC), a $200 million stake in Beast Industries, an $85 million position in Eightco Holdings (ORBS), and $719 million in cash.

BMNR’s stock fell 2.82% in pre-market trade amid broader weakness in the cryptocurrency and equities markets following President Donald Trump’s announcement of a blockade on the Strait of Hormuz. On Stocktwits, retail sentiment around the company remained in ‘neutral’ territory over the past day, while chatter rose to ‘normal’ from ‘low’ levels.

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Read also: Bitcoin Holds Onto $70,000 After Oil Prices Spike On Trump’s Strait of Hormuz Blockade

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