BitMine Immersion (BMNR) recently purchased 45,759 Ethereum (ETH) for over $90 million, increasing its total ETH holdings to 4.37 million tokens worth $8.7 billion. The company stakes 69% of its ETH holdings, generating significant annualized rewards, with potential for more upon the launch of its proprietary staking solution. Despite $8 billion in paper losses, BitMine’s Chairman Tom Lee sees long-term growth for Ethereum due to Wall Street tokenization, AI agent use, and “proof of human” standards, viewing current market sentiment as a “mini-winter” rather than a structural failure.
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BitMine Buys Record 45,759 ETH—Can It Stop BMNR Breaking Below $15 Support?
BitMine Immersion (BMNR) recently purchased 45,759 Ethereum (ETH) for over $90 million, increasing its total ETH holdings to 4.37 million tokens worth $8.7 billion. The company stakes 69% of its ETH holdings, generating significant annualized rewards, with potential for more upon the launch of its proprietary staking solution. Despite $8 billion in paper losses, BitMine’s Chairman Tom Lee sees long-term growth for Ethereum due to Wall Street tokenization, AI agent use, and “proof of human” standards, viewing current market sentiment as a “mini-winter” rather than a structural failure.