BitMine increased its holdings by 203,826 ETH last week, bringing its total holdings to 3.24 million ETH, accounting for 2.7% of the total ETH supply.

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On October 20, according to official news, BitMine Immersion Technologies announced today that its total scale of crypto assets, cash, and “prospective investments” has reached 13.4 billion dollars. As of October 19 at 6:30 PM Eastern Time, the company's crypto asset holdings include: 3,236,014 ETH, 192 BTC, 119 million dollars in Eightco Holdings (NASDAQ: ORBS) equity, and 219 million dollars in unrestricted cash. BitMine Chairman and Fundstrat analyst Tom Lee stated: “Last week, the crypto market experienced the largest deleveraging event in history, putting pressure on ETH prices. Currently, the open interest for ETH has dropped back to the level of June 30 this year (when ETH was 2,500 dollars). Considering the anticipated Supercycle for Ethereum, the current price misalignment presents an attractive risk-reward ratio. Over the past week, we have increased our holdings by 203,826 ETH, bringing our total holdings to 3.24 million ETH, which accounts for 2.7% of the total ETH supply.”

ETH1.21%
BTC2.68%
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