Bitmine Immersion Technologies, led by Tom Lee, purchased 9,587 ETH for approximately $20 million. Its holdings now stand at roughly 6.06 million ETH, bringing the company closer to its goal of owning 5% of Ethereum’s circulating supply. The accumulation occurred amid price declines and significant liquidations across the Ethereum market. Tom Lee forecasts a “supercycle” driven by tokenization and artificial intelligence, while investors will monitor institutional activity, potential regulatory announcements, and whether Ethereum’s price can surpass $2,100.
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