Unrealized losses of 3.7 billion USD! BitMine buys another 98,000 Ether, holding exceeds 4 million coins.

The world's second largest Crypto Assets reserve company BitMine Immersion (stock code: BMNR) announced that the company increased its purchase of 98,852 Ether last week, worth approximately 300 million USD, continuing to move towards its long-term goal of accumulating 5% of the total Ether supply.

This company, led by “Wall Street Oracle” and Fundstrat co-founder Tom Lee, currently controls 3.37% of the global Ether total supply, holding 4,066,062 coins, with a total value of approximately 12.2 billion USD.

It is worth noting that while continuing to accumulate, BitMine still holds approximately $1 billion in cash positions, which has changed little compared to the previous week, indicating that the company retains high liquidity while increasing its position in Ether.

However, the pressure on the books cannot be ignored. According to estimates from the crypto assets data platform DropsTab, as the coin price has significantly retreated in recent months, BitMine is currently still bearing an unrealized loss (floating loss) of over 3.7 billion dollars on its Ether position.

BitMine Chairman Tom Lee remains steadfast in his bullish stance on Ether and the Crypto Assets market. He noted last month that the “bottom for Ether is around $2,500” and predicts that Ether is expected to surge to the $7,000 to $9,000 range by the end of January next year.

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Tags: BitMineBMNRDATTom Lee Ethereum Ether Crypto Assets Reserve Company Wall Street Guru