Bitmine (BMNR), the largest Ethereum treasury firm, bought 101,745 ether (ETH) last week as Chairman Thomas Lee said a new “crypto spring” is underway, even as market sentiment remains subdued.
The purchase lifted the firm’s holdings to over 5.18 million ETH, roughly 4.29% of the token’s outstanding supply, according to a Monday update.
Bitmine’s total crypto and cash holdings stand at $13.1 billion. In addition to its ETH position, the firm holds 200 bitcoin , $700 million in cash and equity stakes including investments in Beast Industries and Eightco Holdings.
The latest buy, worth roughly $238 million at current ETH prices, has extended a run of elevated weekly purchases as the firm doubles down accumulating ETH at…
