Bitmine snaps up 203,826 ethereum in one week Crypto giant now holds 3.2 million ETH, 2.7% of total supply

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Bitmine buys 203,826K Ethereum over the last week and now own 3.2M total ETH.

Tom Lee:

“The crypto market saw one of its largest deleveraging events ever last week and this put downward pressure on ETH prices. Open interest for ETH sits at the same levels as seen on June 30th of this year (ETH was $2,500). Given the expected Supercycle for ethereum, this price dislocation represents an attractive risk/reward. We acquired 203,826 ETH tokens over the past week pushing our ETH holdings to 3.24 million, or 2.7% of the supply of ETH. We are now more than halfway towards our initial pursuit of the ‘alchemy of 5%’ of ETH.”