Bitmine Immersion Technologies said it bought another 8,573 ETH, worth roughly $19 million, bringing its holdings to 6,060,506 ETH. At a reference price of $2,261 per coin, it valued those holdings at about $13.7 billion and said they represented 4.9% of Ethereum’s supply, close to its 5% goal.
Chairman Tom Lee argued that crypto had become more resilient because ETH fell about 4% after a roughly $6.4 billion theft from Binance. He cited Binance’s ability to cover customer losses, swift industry action and the absence of cascading DeFi failures, among other factors. The FBI has attributed the theft to North Korea.
