BitMine Still Buying The Dip, Tom Lee Has Scooped $1.7B ETH Since Crash

BitMine Immersion Technologies has made its fourth purchase of Ether since the record liquidity flush on October 10.

The company scooped up $250 million in ETH from Bitgo and Kraken on Monday, according to Arkham Intelligence which said “These accounts match Bitmine’s prior acquisition pattern.”

“Will Tom Lee ever stop buying?”

3.2 Million ETH Holdings

The wallets purchased 63,538 ETH this week and a whopping 379,271 ETH last week. This brings the total to 442,809 ETH worth around $1.74 billion at current prices purchased since the market crash.

This aggressive dip buying, which Bitcoin treasurys have not replicated, has pushed BitMine’s total to around 3.17 million ETH, but the company has yet to confirm the most recent purchases officially.

This would give it around 2.6% of the entire supply of the asset, and over 50% towards its target of 5%.

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