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Bitmine buys $238M in ETH as Tom Lee says crypto spring has started
Bitmine bought 101,745 ETH last week, worth roughly $238 million at current prices. The purchase lifted Bitmine’s holdings to more than 5.18 million ETH, or about 4.29% of Ethereum’s outstanding supply. Lee said improving market conditions and movement on the CLARITY Act support his view that a new “crypto spring” has begun. Bitmine has also pledged more than 4.36 million ETH to staking, generating about $297 million in annualized revenue.