Tom Lee’s Bitmine adds 20,000 ETH for $35.85M as ETH Price sits at 10-Month Lows
- Jun 22
- 1 min read
Tom Lee-chaired Ethereum treasury company, Bitmine Immersion Technologies, acquired another 20,000 ETH for $35.85 million on Wednesday, June 17, according to onchain data tracked by Arkam Intelligence.
The purchase, executed through FalconX at an implied price of approximately $1,793 per ETH, brings the NYSE-listed company's total Ethereum holdings to about 5.64 million tokens, representing roughly 4.67% of the circulating supply.
The acquisition follows a Monday announcement that the company's crypto, cash, and related holdings totaled $10.4 billion as of June 14, including 5,620,754 ETH priced at $1,718 per ETH.
Bitmine also reported holdings of 204 Bitcoin, a $180 million stake in Beast Industries, an $88 million stake in Eightco Holdings and $502 million in cash and marketable securities.
The company also reported that 4.66 million ETH is currently staked or managed through its validator infrastructure, with a majority of holdings deployed through its institutional staking platform MAVA.
Ether traded at $1,689 on Friday, down 3 % over the past 24 hours, according to CoinMarketCap data. The token remains about 65% below its record high of $4,946 reached in August last year
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