Tom Lee's BitMine Continues to Buy Ethereum, Holding $2.6 Billion in Unrealized Losses

According to data from on-chain analysis platform Arkam, an address with the same purchasing pattern as Nasdaq-listed BitMine Immersion Technologies withdrew Ethereum (ETH) worth $69.8 million from the cryptocurrency exchange Falcon X on the 6th. Including other transactions, the total new purchases for the day amounted to approximately $140 million (equivalent to 21 billion yen).

Tom Lee, a prominent Wall Street analyst who serves as the chairman of the company, continues to buy more Ethereum even as its price falls. BitMine, supported by Peter Thiel, is actively increasing its holdings...