BitMine Acquires $838 Million Ethereum Amid Market Turbulence

BitMine Immersion Technologies, led by cryptocurrency expert Tom Lee, recently acquired 202,037 ETH tokens during a period of significant market volatility. This strategic acquisition has bolstered their holdings to over 3 million ETH, representing a noteworthy 2.5% share of the total Ethereum supply. BitMine’s action signals an intent to influence Ethereum market dynamics through its substantial stake in the cryptocurrency.