BitMine Adds 71,672 ETH as Price Drops Below $2,200, Now Holds 5.28M ETH
BitMine Immersion Technologies purchased 71,672 Ethereum (ETH) last week, valued at $151 million, as ETH slid below $2,200. The company now holds approximately 5.28 million ETH, worth about $11.1 billion. This follows a slowdown the previous week when it added only $62 million worth. BitMine Chairman Tom Lee stated the pullback was an attractive opportunity, citing crypto spring and Ethereum's role in trends like agentic commerce and tokenization. However, ETH dropped over 9% in the past week to around $2,108, and BitMine shares (BMNR) fell 5.4% on Monday to $18.80, down 88% from their 52-week high. Lee remains optimistic, noting progress on the Clarity Act, which advanced beyond the Senate Banking Committee. Polymarket odds for the act's passage by year-end are 64%.
Key facts
- BitMine bought 71,672 ETH worth $151 million last week as ETH fell below $2,200.
- BitMine now holds 5.28 million ETH, valued at $11.1 billion.
- ETH dropped 9% last week to ~$2,108; BMNR shares fell 5.4% on Monday.
- BMNR shares are down 88% from 52-week high of $161.
- Chairman Tom Lee cites Clarity Act progress; Polymarket odds for passage at 64%.