BitMine Acquires $827 Million Worth of ETH Amidst Market Volatility

Cryptocurrency firm BitMine has made a substantial investment in Ethereum, purchasing 202,037 ETH for an estimated $827 million during recent market volatility. This acquisition positions them to secure approximately 5% of the total Ethereum supply. Chairman Tom Lee believes this opportunity is tied to the volatility cycle, prompting him to acquire assets at discounted prices.