DarkenBiz
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Tom Lee, Chairman of BitMine Immersion Technologies, stated that the company may slow down its ETH purchases, as it has nearly reached its ambitious goal: to accumulate 5% of all Ethereum currently in circulation.
Key Highlights:
• Over the past 10 months, BitMine has amassed more than 4% of all circulating ETH.
• The plan was originally projected to take approximately 5 years to complete.
• The company is currently purchasing over 100,000 ETH per week (~$230 million).
• In the last week alone, 101,901 ETH were purchased.
• BitMine’s balance sheet now holds 5,078,386 ETH—worth approximately $11.7 billion.
Tom Lee:
"If we continue buying 100,000 ETH every week, we will reach our goal in just six weeks. We may decide to slow down the pace of our purchases."
BitMine is already considered the largest corporate holder of Ethereum.
It appears the institutional race for ETH is reaching a new level.
Key Highlights:• Over the past 10 months, BitMine has amassed more than 4% of all circulating ETH.
• The plan was originally projected to take approximately 5 years to complete.
• The company is currently purchasing over 100,000 ETH per week (~$230 million).
• In the last week alone, 101,901 ETH were purchased.
• BitMine’s balance sheet now holds 5,078,386 ETH—worth approximately $11.7 billion.
Tom Lee:"If we continue buying 100,000 ETH every week, we will reach our goal in just six weeks. We may decide to slow down the pace of our purchases."
BitMine is already considered the largest corporate holder of Ethereum.It appears the institutional race for ETH is reaching a new level.
