BitMine Immersion Acquires $173M in Ether as Tom Lee Suggests Reason Behind Crypto Weakness

BitMine Immersion Technologies (BMNR), the digital asset treasury firm focused on Ethereum, said on Monday it acquired over 54,000 ether (ETH) last week worth around $173 million at current prices. The firm now holds nearly 3.6 million ETH, closing in on 3% of the outstanding supply of the token, alongside a small bitcoin stash and equity in Worldcoin-focused treasury firm Eightco (ORBS). It also raised its cash holdings to $607 million, up from $398 million last week. BMNR shares slipped 2.6% on Monday ...