Overview
- BitMine disclosed the purchase of 82,353 ETH worth roughly $300 million, bringing its holdings to about 3.4 million ETH, or 2.8% of circulating supply.
- The company reiterated its long‑term target to own 5% of Ethereum’s supply, with Tom Lee saying the firm is now more than halfway to that goal.
- BitMine reported combined crypto, cash and equity of approximately $13.7 billion, including 192 BTC, a $62 million stake in Eightco, and unencumbered cash increased to $389 million.
- Shares of BMNR fell more than 8% on Monday and are down roughly 25% over the past month as ETH retreated, with some outlets noting a multi‑session slide in the stock.
- The update landed during market turbulence that included a reported $120 million exploit at Balancer, while Lee forecast on TV that Bitcoin and Ethereum could rally into year‑end.