BitMine Continues to Accumulate Ethereum Despite Market Volatility

BitMine Immersion Technologies has continued to buy up Ethereum, adding $103 million worth of the cryptocurrency last week to its treasury. This latest acquisition brings the firm's total haul to 4,473,587 ETH, which represents around 3.71% of the circulating Ethereum supply.

The company's chairman Tom Lee remains optimistic about the asset's long-term prospects, despite the current market downturn. He believes that the price of Ethereum is not reflective of its underlying value and potential for growth in the future.