Tom Lee's BitMine Continues to Buy Ethereum Dips, Purchasing ¥11 Billion Worth in Three Days

BitMine Immersion Technologies has purchased Ethereum (ETH) worth ¥11 billion over the past three days, even amid market downturns. According to blockchain data shared by LookOnChain, the company acquired 7,080 ETH for about $19.8 million on the second day, and 16,693 ETH for approximately $50 million last week. As of December 1, BitMine holds about 3.726 million ETH, with an average acquisition cost of $3,008 per token. Despite currently facing significant unrealized losses, the management has not slowed down its purchasing pace. According to industry trackers, the company is one of the largest corporate holders...