BitMine increased its holdings of 200,000 ETH, and its total holdings accounted for 2.7% of Ethereum’s circulating supply! Tom Lee: Buy now with great return on investment

BitMine announced that it continued to increase its holdings of 203,826 ETH last week, bringing its total Ethereum holdings to officially reach 3,236,014 ETH, accounting for 2.7% of Ethereum’s circulating supply.
(Preliminary summary: Ethereum technology has a breakthrough signal, funds are pouring in at the end of the symmetrical triangle, and the market is about to break out)
(Background supplement: BitMine bought 128,000 ETH at the bottom! Tom Lee insists on being bullish: the callback is a healthy washout, and the market has not undergone structural changes)

BitMine Immersion, the leading Ethereum reserve company Technologies (NYSE: BMNR) announced today (20th) that it has continued to increase its holdings of 203,826 ETH last week, bringing its total Ethereum holdings to 3,236,014 ETH, accounting for 2.7% of Ethereum’s circulating supply. This also marks that BitMine is halfway towards its “5% Alchemy” goal.

BitMine’s total asset holdings are as high as $13.4 billion

The official press release pointed out that BitMine’s total asset holdings have now risen to as high as $13.4 billion, including 3.24 million ETH, 192 Bitcoins (BTC), Eightco Holdings (NASDAQ: ORBS) holdings worth $119 million (BitMine calls it “Moonshots” Plan"), and $219 million in unsecured cash.

Currently, BitMine’s cryptocurrency reserves rank first among the global Ethereum treasury, and its overall digital asset reserves rank second, second only to Strategy Inc’s Bitcoin reserves.

Tom Lee: Continue to move towards the 5% target

It is worth mentioning that in response to the huge liquidation experienced by the cryptocurrency market on October 11, BitMine Chairman Tom Lee commented in the announcement:

“Last week the cryptocurrency market experienced one of the largest deleveraging events in history, which put downward pressure on the price of ETH. The open interest volume of Ethereum is currently the same as in June this year. The same level as on the 30th (when ETH was at $2,500). This price dislocation represents a very attractive risk-to-reward ratio given the Ethereum supercycle we are anticipating. We acquired 203,826 ETH tokens last week, pushing our ETH holdings to 3.24 million, equivalent to 2.7% of the total ETH supply, and we are now more than halfway towards the 5% we originally pursued. Alchemy's goal is moving forward."

Tom Lee further pointed out that BitMine's strategy is not limited to asset accumulation, and its stock trading activity is also ahead of its peers. According to Fundstrat statistics, BMNR's average daily trading volume reaches $2.1 billion (5-day average), ranking 33rd among 5,704 public companies in the United States. At the same time, BitMine continues to attract support from top institutional investors, including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, etc., to jointly promote its goal of acquiring 5% of the ETH supply.