BitMine Inc., the cryptocurrency mining and investment company led by market strategist Tom Lee, said it bought about $2.2 billion worth of Ethereum during the week ended Aug. 24, according to a company statement released Monday. The latest acquisition lifts BitMine’s combined cryptocurrency and cash reserves to roughly $8.82 billion, making it the world’s largest corporate holder of Ether and the second-largest digital-asset treasury overall, trailing only MicroStrategy’s Bitcoin stockpile. BitMine, which trades on Nasdaq under the ticker BMNR, said the purchases were financed through operating cash flow and an existing revolving credit facility. The company reiterated that accumulating major digital assets remains a core component of its capital-allocation strategy.
Tom Lee's Bitmine purchased over $2.2 billion worth of Ethereum in the past week, according to a press release. 👀 https://t.co/cd6fo8priZ
NEW: TOM LEE'S BITMINE BOUGHT OVER $800M OF $ETH OVER THE PAST WEEK https://t.co/Nm4Pr3VfcR
[PRN] Tom Lee’s BitMine (BMNR) Bought $2.2B in Ethereum Last Week; Firm Now Holds $8.82B in Crypto and Cash, Largest ETH Treasury Globally and #2 Overall Behind MSTR $BMNR $ETH $MSTR