BitMine, by Tom Lee, buys an additional R$ 1.7 billion in Ethereum

Source: PortaldoBitcoin Original Title: BitMine, by Tom Lee, buys an additional R$ 1.7 billion in Ethereum Original Link: Bitmine Immersion Technologies, the leading Ethereum treasury company by holdings and led by Fundstrat founder Tom Lee, surpassed 4 million ETH in reserves after a new round of purchases last week.

The company Bitmine acquired 98,852 units of Ethereum in a transaction valued at approximately US$ 300 million — about R$ 1.7 billion, based on the current exchange rate. With this, its total reserves reached 4,066,062 ETH, more than 3% of the total circulating supply of the second-largest cryptocurrency in the market.

“Bitmine now holds 3.37% of the ETH token supply, two-thirds of the way to the 5% target,” the company highlighted.

Despite the significant purchase, Bitmine maintained US$ 1 billion in cash, a value that remained unchanged during the week. Only the company’s Ethereum treasury is valued at just over US$ 12 billion, making it the largest ETH holder among publicly traded companies — Bitmine is listed on the largest stock exchange in the US, NYSE, under the ticker BMNR.

“All of Bitmine’s holdings total US$ 13.2 billion,” the company said.

The acquisitions occurred during a period of strong price fluctuations, meaning Bitmine continued accumulating ETH consistently, even amid volatility.

ETH fell from a peak of US$ 3,170 at the beginning of last week to less than US$ 2,800 last Thursday, before recovering and surpassing US$ 3,000 again. The rebound boosted BMNR’s shares, which rose 10% on Friday and advanced another 4.5% in pre-market trading.

Despite progressing toward the 5% ownership goal of the total Ethereum supply, Bitmine has unrealized losses estimated at over US$ 3 billion, reflecting the sharp decline in prices over the past few months.