Related Articles
A week of ether $ETH$2,276 was kept by BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury firm, which continued its weekly tether. Despite sharp crypto sell-off, 43 buy streaks of its unrealized losses deepened its stock to new 7-month lows and sent its share into new 6- month low.
According to a Monday update it bought 41,788 $ETH last week — its biggest weekly token haul so far this year — for an estimated $96 million at current prices. This acquisition brought BitMine’s $ETH holdings to 4,285,125 tokens, or about 3. a Monday company update, which was released to reveal 55% of Ethereum’s circulating supply. Also, the company holds 193 bitcoin BTC$77,528. A cash stake of 46, $586 million, a $200 million stake in Beast Industries and $20 million in Eightco Holdings was also held.
During the weekend, Ether fell to approximately $2,000.300 and pulled its company’s total crypto (money-and equity holdings) portfolio down to $10. 7 billion – . During Monday morning U.S. S. price had retreated modestly to $2,360 from trade, the price was. BMNR stocks fell by 5%>.
The company, which is estimated to be sitting on around $6 billion of unreal losses on its position with crypto prices soaring last week, faces roughly the same fate as it suffers from about six billion in unrequited losses.
But ether’s price weakness contrasted with increasing activity on the Ethereum blockchain, chairman Thomas Lee said that everyday transaction and active addresses have recently hit record highs.
In the crypto winter of 2021-2022 or 2018-2019, “We have seen in the last 12 months that Ethereum transaction activity and active wallets declined,” Lee said.
He argued that the market has been affected by “lingering effects” from October’s crypto crash and the recent surge in precious metals prices, which cut out liquidity from the crypto economy.
BitMine has also stepped up staking, raising its staked $ETH total to nearly 2 in the world. Its holdings are 9 million tokens, or about two-thirds of its holding and an estimated $188 million in annualized staking revenue is generated by the amount that it generates for each year (or more than three-quarters) of all proceeds from ‘s ownership.
Thanks for reading Tom Lees BitMine Immersion added 41000 ether as paper losses rise to $6 billion
