Buy the dip! Bitmine sweeps over 100,000 ETH, holdings nearing 5% of total supply target

ORIGINAL趁跌抄底！Bitmine 狂掃逾 10 萬枚以太幣，持幣量逼近全網 5% 目標

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Taking advantage of the recent pullback in the cryptocurrency market, Bitmine Immersion Technologies (BMNR) has viewed this downturn as an excellent opportunity to "buy the dip," aggressively purchasing over 100,000 ETH, bringing the company's total holdings to 5.39 million ETH. Bitmine stated that following this latest round of acquisitions, the company has reached 89% of its ultimate goal of "controlling 5% of the total ETH supply." According to CoinGecko data, as of 9:24 AM local time on Tuesday, ETH was trading at $2,115.21, valuing Bitmine's ETH holdings at approximately $11.4 billion. Bitmine Chairman Tom Lee said in a recent statement: "Over the past week, we have purchased a total of 111,942 ETH. We believe that the recent pullback of ETH to below $2,200 represents a highly attractive entry point." He further highlighted the future market potential: "We remain bullish on the upcoming 'supercycle' for cryptocurrencies and ETH. Driven by the dual engines of Wall Street-led asset tokenization and Agentic-AI, we will continue to steadily increase our ETH holdings." Profit-taking pressure mounts, ETH down nearly 30% year-to-date Reviewing recent market trends, dragged down by profit-taking from some investors, ETH fell from a high of $2,400 earlier this month, at one point nearing the $2,000 psychological support level. Since the beginning of the year, ETH has accumulated a decline of nearly 30%. It is worth noting that as a proponent of ETH, the stock price trend of Bitmine has been almost identical to the performance of ETH, with the two showing a high degree of correlation. Despite facing headwinds this year, as buying interest emerged at lower levels, Bitmine's stock price still closed higher, rising 4% to $19.66 per share. The market is closely watching whether this company, which is betting on the future of ETH, can reap the rewards in the next supercycle as hoped.

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