BitMine Immersion has significantly increased its Ethereum holdings to $13.2 billion, now possessing 2.83 million ETH and 192 BTC as of October 6. Chairman Tom Lee describes Ethereum as the 'biggest macro trade' of the decade, driven by advancements in AI and cryptocurrency, and suggests its current price remains undervalued. Since July, over 4 million ETH has been withdrawn from exchanges, hinting at a potential supply crunch. BitMine aims to control 5% of the total Ethereum supply, requiring an additional 3.2 million ETH to meet this goal. As of October, Ethereum treasury holdings and ETFs have reached 5.66 million ETH, valued at $26.45 billion.
BitMine's $13.2B Ethereum Holdings Indicate Potential Supply Crunch
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