Key facts
- Bitmine Immersion Technologies acquired 27,084 ETH for approximately $43 million.
- The firm's total ETH holdings now stand at over 5.7 million, representing 4.7% of the circulating supply.
- Bitmine's Chairman, Tom Lee, attributed current crypto market weakness to quarter-end 'window dressing'.
- Bitcoin and Ether are heading for their third consecutive quarterly loss.
- Bitmine Immersion Technologies has joined the Russell 1000 index.
Ethereum treasury firm Bitmine Immersion Technologies has acquired an additional 27,084 ETH, valued at approximately $43 million, increasing its total holdings to over 5.7 million ETH. This represents 4.7% of the cryptocurrency's circulating supply. The firm's total assets, including crypto, cash, and investments, now amount to $9.8 billion. Chairman Tom Lee attributed the current crypto market weakness to 'window dressing' as investors rebalance portfolios at the end of the quarter. Bitcoin and Ether are on track for their third consecutive quarterly loss. The company also recently joined the Russell 1000 index, a move expected to attract additional institutional investors.