Ethereum Treasury Firm Continues Buying Spree Amid Market Uncertainty

BitMine Immersion Technologies, a leading Ethereum treasury firm, continued its buying spree by adding approximately $146 million worth of ETH to its holdings last week. The firm's total ETH stash now stands at around $9.7 billion, with the cryptocurrency valued at around $2,055.

The company's Chairman, Tom Lee, highlighted the inverse correlation between crypto and oil prices in a statement, noting that crypto has outperformed traditional equities and gold during times of geopolitical uncertainty. He also predicted that the crypto market will likely end its current 'mini winter' when the upside risk to oil prices peaks.