BitMine Immersion Technologies, an Ethereum treasury firm associated with investor Tom Lee, buys Ethereum at a slower pace than in earlier weeks, according to reports from CoinDesk and Decrypt. CoinDesk says the firm purchased about 26,000 ether last week, down from an average weekly amount of roughly 100,000 ether in the preceding period. Decrypt reports that BitMine added about $62 million worth of ether last week, reflecting the reduced buying activity. Both outlets indicate the firm has already accumulated about 1 million ether earlier in the year, and the most recent purchases mark a notable decrease compared with recent trends. The accounts describe the slowdown in terms of both token volume and the dollar value of the latest purchases. Neither source attributes the change to a specific cause, but both characterize it as a shift from the firm’s prior higher-rate accumulation. The reports focus on the firm’s buying pace and the scale of its year-to-date holdings, rather than broader market or regulatory developments.
BitMine Immersion Technologies slows Ethereum purchases after buying about 1 million ETH this year
BitMine Immersion Technologies, an Ethereum treasury firm associated with investor Tom Lee, buys Ethereum at a slower pace than in earlier weeks, according to reports from CoinDesk and Decrypt. CoinDe...
- BitMine Immersion Technologies slows its weekly Ethereum purchasing pace.
- CoinDesk reports it buys about 26,000 ETH last week.
- CoinDesk says the previous weeks averaged about 100,000 ETH per week.
- Decrypt reports the firm adds about $62 million in ETH last week.
- Both reports say BitMine has already bought roughly 1 million ETH this year.
Ethereum treasury firm BitMine Immersion Technologies slowed its ETH purchase pace, adding just $62 million worth last week.
3 months agoThe firm bought roughly 26,000 ether last week, a sharp decline from the average of the previous weeks' 100,000.
3 months ago
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