• BitMine Immersion added $98 million of ether last week as losses balloon to more than $8 billion Tom Lee’s Ethereum-focused firm continues buying into the crypto market weakness, now 4.42 million ETH tokens, or about 3.66 percent of the total supply. • What to know: BitMine Immersion Technologies purchased 51,162 ether in the past week, bringing its total Ethereum holdings to more than 4.42 million tokens. • The company has spent an estimated $16.4 billion building its Ethereum treasury, which is now worth roughly half that amount, leaving it with more than $8 billion in losses amid a market downturn. • The firm said it is now generating about $171 million in annualized staking revenue. • BitMine Immersion Technologies (BMNR) purchased 51,162 ether (ETH) last week, or roughly $98 million at current prices. • The latest purchase lifted the firm’s total holdings over 4.42 million tokens as of February 22, cornering 3.66% of the token’s total supply, the company saidin its latest Monday update.
Article Summaries:
- BitMine Immersion Technologies (BMNR) bought 51,162 ETH last week, adding roughly $98 million to its holdings and pushing total ownership to more than 4.42 million tokens-about 3.66 % of the Ethereum supply. The firm has spent an estimated $16.4 billion building its treasury, which is now worth about half that amount, leaving losses exceeding $8 billion amid a market downturn. Despite the decline, BMNR reports annualized staking revenue of $171 million from over 3 million ETH. Chairman Thomas Lee said the company will continue methodically acquiring ETH to optimize yield during the current “mini crypto winter.”
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