Tom Lee's Bitmine Buys $14M in Ethereum as Cash Falls to $104M
60-second summary
Tom Lee's Bitmine is buying $14 million in Ethereum as its cash reserves fall to $104 million, a significant decrease. Despite this, Bitmine has reported holding 4.8% of the Ethereum supply for five consecutive weeks, leaving its 'Alchemy of 5%' target roughly 230,000 tokens away, a notable milestone in its accumulation strategy.
Bitmine has reported 4.8% of the supply for five straight weeks, leaving its 'Alchemy of 5%' target roughly 230,000 tokens away.