Tom Lee’s Bitmine Buys Another $88M ETH as ETFs Record Inflows

Group 1 - Bitmine Immersion, led by Tom Lee, has been actively accumulating Ethereum (ETH), purchasing a total of 42,874 ETH worth approximately $128.7 million in just two days [1][2] - Over the past month, Bitmine has acquired a total of 138,452 ETH in the first week of December alone, bringing its total holdings to over 4.06 million ETH tokens [1][2] - Bitmine's total crypto and cash holdings are valued at more than $13.2 billion as of December 22 [2] Group 2 - The Ethereum market has experienced significant volatility, with ETH dropping from $3,400 on December 10 to $2,780 on December 18, before recovering slightly to trade at $2,960 [3] - On December 22, spot ETH exchange-traded funds (ETFs) in the US recorded their first inflows after seven consecutive outflows, totaling $84.6 million, primarily from Grayscale's funds [4] - Despite negative sentiment among retail investors, Bitmine's chairman predicts that Ethereum could reach $62,000, although this prediction has been met with skepticism from industry analysts [5]