BitMine gobbles over $2B in ETH in 16 days amid treasury arms race
Chairman of BitMine’s board of directors, Tom Lee, said the company wants to acquire and stake at least 5% of the total Ether supply, which would be over 6 million Ether.
Bitcoin mining firm BitMine Immersion Technologies has bought up over $2 billion of Ether in just 16 days, retaking the lead among a flurry of newly formed Ether treasury companies.
BitMine said in a statement on Thursday that in the last 16 days, it had bought up 566,776 Ether (ETH), worth over $2.03 billion.
Tom Lee, the managing partner of FundStrat and the chairman of BitMine, said after the latest buying spree, the company is “well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.”
