BitMine Immersion Acquired 173 Million Dollars in Ethereum

BitMine Immersion Technologies made an investment of approximately 173 million dollars by purchasing 54,000 Ethereum. With this transaction, the company's total Ethereum holdings have reached 3.6 million ETH.

The company's cash reserves have shown a significant increase, amounting to 607 million dollars. This situation aims to strengthen their financial stability.

Thomas Lee stated that the weakness in current cryptocurrency prices is due to the decreased market liquidity following the market crash in October. However, he emphasized that the cycle has not yet reached its peak.