CoinDesk·3 min read·medium
Bitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto prices
K
Krisztian Sandor
✦AI Summary
Bitmine has increased its ether holdings to 4.8% of the total circulating supply, citing a positive ETH/BTC ratio as a signal for future price growth. The company continues its aggressive treasury strategy despite a slower pace of accumulation compared to earlier this year.
The company bought 9,946 ETH, worth about $19.4 million at current prices, up from 7,430 ETH the previous week, according to a Monday update. The purchase lifted Bitmine's holdings to 5,787,414 ETH ($11.2 billion), or about 4.8% of ether’s circulating supply.
businesscryptoeconomy
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