Bitmine, associated with Tom Lee of Fundstrat, has expanded its Ethereum holdings by purchasing an additional 76,881 ETH, valued at approximately $135.62 million. This acquisition brings Bitmine's total Ethereum holdings to 5,620,754 ETH, worth around $9.92 billion. Despite the substantial investment, the average acquisition cost of $3,450 per ETH means the position is currently down by over $9.5 billion at present market prices.
Bitmine Acquires Additional 76,881 ETH, Total Holdings Reach $9.92B
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