BitMine Immersion Technologies (BMNR), the largest corporate holder of Ethereum (ETH) worldwide, announced on Monday that it had made a significant new purchase of nearly 61,000 ETH.
BitMine Holds 3.7% Of Total Ethereum SupplyNotably, BitMine now holds around 3.76% of the total Ethereum supply, positioning itself over 75% of the way toward its ambitious target dubbed the “Alchemy of 5%” within just eight months.
The firm’s total assets, including cash and other cryptocurrencies, have reached $10.3 billion, comprising 4.535 million ETH tokens, $1.2 billion in cash holdings, and various other crypto assets.
Final Stages Of ‘Mini-Crypto Winter’Lee commented on the current market conditions, expressing confidence that crypto prices are entering the final stages of what he referred to as a “mini-crypto winter.”
Ethereum prices showed resilience this week, in the face of rising war concerns and surging oil prices. We continue to believe that crypto prices are in the late/final stages of the ‘mini-crypto winter.
The analyst also predicts that Ethereum prices are likely to reach their lowest point between 8 and 14 March, potentially dipping just below the recent low of $1,740. This could equate to a decline of around 14% from current trading prices.
Featured image from OpenArt, chart from TradingView.com
