Tom Lee’s BitMine Rises as Ethereum Rebounds, Firm Adds $321 Million in ETH

Core Insights - BitMine Immersion Technologies has significantly increased its Ethereum holdings, adding $321 million worth over the past week, bringing its total to 3.313 million ETH valued at over $13.8 billion [1][2] - The company is the largest Ethereum treasury firm, surpassing SharpLink Gaming, and holds the second largest overall crypto treasury behind Strategy, which has over $73 billion in Bitcoin [2] - Ethereum's recent price increase is attributed to improving trade relations between the U.S. and Canada, as well as positive sentiment in the broader crypto market [3][4] Company Performance - BitMine's stock has risen over 5% following the announcement of its ETH purchase and the recent price increase of Ethereum, with shares trading at $53.15 [4] - The firm also holds 192 Bitcoin valued at approximately $22 million and $305 million in cash [1] Market Trends - Ethereum has seen a 3% increase over the past week, reaching a recent price of $4,166, with a peak of $4,246 noted in the last two weeks [2] - Market sentiment remains bullish, with a nearly 80% chance of Ethereum rising to $4,500 before dropping to $3,100 [5]