Bitmine purchased another $69 million of ETH, with Tom DeMark expecting price uptrend to soon resume
What CoinDesk reports, why it matters and what remains unconfirmed.
The story in one view
- Reported by
- CoinDesk
- Coverage lens
- Markets and price action
- Published
- Evidence status
- Single attributed publisher report
What CoinDesk reports
At the latest purchase pace, Tom Lee's Ethereum treasury firm could reach its crypto accumulation goal in another seven weeks.
The immediate significance
The report describes a short-term move involving ether. Its significance depends on the size of the move, market breadth, liquidity and whether the conditions persist beyond one session.
What remains unknown
- The publisher summary does not establish causation between the named event and the market move.
- The report does not show whether the move persists across venues, liquidity conditions or a longer time window.
- No matched primary document independently supporting the central claim is linked to this page.
The named assets, right now
Spot quotes from Kraken, checked .
Related Articles And Podcast
Further reporting and analysis on this story.
Bitmine’s ether hoard reaches 5.81M—nearly 5% of supply
One company’s growing ownership of a meaningful share of ETH raises both treasury and concentration questions.
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Sharplink's planned $200 million Lido allocation adds a new layer of treasury risk
The plan moves part of a public company's treasury from direct ETH exposure into a liquid-staking token. That may generate staking rewards and make the position usable in DeFi, while adding smart-contract, validator, withdrawal, market-liquidity, custody and governance risks.
Read the full articleBitMine Owns 4.8% of Ethereum | U.S. Treasury’s Stablecoin Rules | XRP Loses $1 | Daily Crypto Roundup
BitMine Immersion Technologies, chaired by Tom Lee, now owns approximately 4.8% of Ethereum’s entire circulating supply after purchasing another 9,926 ETH.
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