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Bitmine has added 40,000 Ethereum to the Ethereum treasury
In a post on X platform, the blockchain analytics platform "Look On Chain" cited data from "Arkam," indicating that the company apparently purchased an additional 40,000 Ethereum, worth $82 million, today. This is the latest purchase by the largest Ethereum treasury management company, coming after its announcement of another weekly purchase last week.
According to CoinGape, Tom Lee's company Bitmine acquired 71,179 Ethereum last week, bringing its total holdings to over 4.7 million Ethereum. The company's holdings represent approximately 4% of the total Ethereum supply, bringing it closer to its "5% alchemy" goal of acquiring 5% of the total supply.
The company continues to buy more Ethereum (ETH) despite incurring an unrealized loss on its current investments in this asset. DropsTab shows that Tom Lee's company has incurred an unrealized loss of nearly $7.6 billion on its investments, with an average purchase price of $3,271 per Ethereum.