Bitmine bought $75 million ether as Tom Lee says institutions are still underweight crypto
Bitmine Immersion Technologies BMNR$27.56, the largest Ethereum treasury firm, bought another 27,562 ether ETH$2,733.05 last week, maintaining its steady buying as Chairman Tom Lee argued institutional investors remain underexposed to crypto. The purchase was worth about $75.2 million at Monday’s ether price of $2,727, lifting Bitmine’s holdings to 5,983,940 ETH. That’s about 4.9% of the token’s 122.1 million supply, keeping the company close to its goal of owning 5%.