BitMine Expands Ethereum Holdings Amid Market Volatility

BitMine, a company led by Tom Lee, has made significant investments in Ethereum, purchasing 51,162 ETH last week. This acquisition brings its total Ethereum holdings to 4.42 million, representing approximately 3.66% of the entire Ethereum supply.

The move comes amidst market volatility, with Ether trading at around $1,927. Despite this, BitMine's chairman, Tom Lee, remains optimistic about the cryptocurrency's fundamentals, stating that they are strengthening despite recent price pressure.