Tom Lee’s Bitmine Buys $14.61M in ETH as Ethereum Falls Below $1,900

Bitmine, chaired by investor Tom Lee, acquired 7,500 Ethereum worth approximately $14.61 million through digital asset custodian BitGo in a single on-chain transaction, according to blockchain data.

The purchase came during a broad market pullback that pushed ETH down 4.3% over the past 24 hours. The cryptocurrency fell below the $1,900 level and was trading at $1,882 at the time of writing.

The transaction indicates Bitmine continued to add to its Ethereum holdings despite the recent price weakness. The company has not publicly commented on the latest purchase.

Source: Lookonchain