BitMine Doubles Down on Ethereum with $821 Million Acquisition

BitMine, the crypto investment firm led by former Fundstrat Global Advisors founder Tom Lee, has made a significant move in its strategy by acquiring 179,000 ETH tokens worth $821 million. This acquisition pushes BitMine’s Ethereum holdings past 2.83 million, signaling a strategic shift away from Bitcoin and towards Ethereum’s growing market share. Experts see this as an important development, particularly considering the increasing institutional interest in cryptocurrencies.