Guavy Logo
Back
Guavy AI Editorial Team••Sentiment: -3•Clout: 65

BitMine Buys More Ethereum Amid Declining Crypto Prices

BTCETH

BitMine Immersion Technologies continued its streak of adding Ethereum to its treasury last week, despite declining prices. The firm added $43 million in ETH to its balance sheet, bringing its total holdings to over 5.7 million tokens valued at around $9 billion.

The company's primary treasury asset, ETH, has fallen 22% in the last month of trading and is now down 68% from its all-time high of $4,946.

Meanwhile, top Bitcoin treasury firm Strategy did not add to its holdings of BTC last week. The firm instead approved plans to sell up to $1.25 billion worth of Bitcoin to build up its cash reserves for dividend payments.