The most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
Bitmine Immersion Technologies chairman Tom Lee says Ether’s “mini-crypto winter” may be in its final stages as the firm bought another $139 million worth of ETH, bringing it closer to its goal of acquiring 5% of the token’s circulating supply.
Lee said in a statement on Monday that Bitmine has maintained a higher buying pace over the last three weeks as it expects the wrapping up of a several-month-long Ether falling from its all-time peak above $126,000 during the month, while Ether declined from its August high of $4,946. Analysts have been“As many have noticed, crypto and particularly ETH have outperformed the broader market since the Iran war commenced, with ETH rising 18% and outperforming equities by 2,450 basis points,” he said. “This is a marked contrast to Gold, a traditional store of value, which has fallen more than 15%. Crypto is demonstrating itself to be a good 'wartime' store of value,” Lee added.Lee’s statements came as Bitmine disclosed it had purchased an additional 65,341 Ether in the past week , bringing total holdings to more than 4.6 million tokens. Bitmine has stockpiled roughly 3.86% of the total circulating supply of 120.6 million since announcing its crypto pivot eight months ago. To reach its goal based on the current total supply, the company will need to buy roughly 1.4 million tokens, which, at current prices, would cost roughly $2.9 billion, according to CoinGecko.Bitmine also reported other holdings, including $1.1 billion in cash, 196 Bitcoin, a $200 million stake in Beast Industries, a media company founded by YouTuber Jimmy “MrBeast” Donaldson and a $95 million stake inin 2025, with Bitmine rising to the second-largest behind Michael Saylor’s Strategy in terms of holdings. However, some, like the multinational bank Standard Chartered,67 large treasury holders of Ether, with Bitmine leading by a large margin. SharpLink Gaming, which held the top spot before being surpassed by Bitmine, is second with 863,000 Ether, while Ether Machine ranks third with 496,000 tokens. Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum news (ETH): Tensions rise across Ethereum as scaling, security and AI Priorities intensifyWhile upgrades have improved efficiency and lowered costs, the ecosystem faces deeper structural questions around fragmentation, security, and purpose, even as it continues prioritizing base-layer scaling.
Read more »
Resolv stablecoin crashes 70% as attacker extracts $25 million in ETHThe protocol holds $95 million in assets against $173 million in liabilities, leaving it functionally insolvent. USR is trading at $0.27, down 72% in a week.
Read more »
Ethereum ICO Whale Breaks Two-Year Dormancy, Moves 15,000 ETH to CoinbaseEthereum whale is selling amid growing volatility concerns on the market.
Read more »
Ethereum news: Bitmine (BMNR) buys 65,341 ETH worth $138 million betting on crypto slump endingThe Ethereum treasury firm led by Thomas Lee now has increased its buying pace for three consecutive weeks even as unrealized losses mount.
Read more »
One dead, 77 injured after Colombia military plane crashes after takeoffColombian C-130 crash kills one, injures 77; probe begins into aging military aircraft and cause of accident.
Read more »
Military plane with 121 aboard crashes in Colombia, killing at least 1 and injuring 77Colombian officials say that a military cargo plane with 121 people, most of them soldiers, crashed shortly after taking off in southwestern Colombia.
Read more »