Bitmine adds 8,573 ETH as holdings reach 6.06 million
Business · First reported 2 Nov, 14:40 · Updated 14:46
Bitmine said it bought 8,573 ETH, bringing its holdings to 6,060,506 ETH, or 4.9% of Ethereum’s supply. Chairman Tom Lee pointed to the market’s limited price response to the Binance hack as evidence of crypto’s resilience.
- Bitmine added 8,573 ETH and reported holdings of 6,060,506 ETH, worth about $13.7 billion.
- The company said its ETH holdings equal 4.9% of the token supply, putting it 99% of the way to its 5% target.
- Tom Lee argued that ETH’s roughly 4% decline after the $6.4 billion Binance theft showed the market was more resilient; he cited several factors, including Binance’s ability to cover customer losses.
Summary written by Lux AI from 2 articles
Key facts
- Latest purchase
- 8,573 ETH
- Reported ETH holdings
- 6,060,506 ETH, worth about $13.7 billion at the cited reference price
- Share of Ethereum supply
- 4.9%; Bitmine said it was 99% of the way to its 5% target
- Binance theft
- About $6.4 billion; the article says the FBI attributed it to North Korea
- ETH price move after breach
- Lee said ETH fell about 4%
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