Tom Lee Says ‘Absurd’ AI Valuations Aren’t Wrong As BitMine Adds 102,259 ETH
BitMine Immersion Technologies Inc. (NYSE:BMNR) purchased another 102,259 Ethereum (CRYPTO: ETH) as Chairman Tom Lee argues that seemingly extreme AI valuations can still deliver long-term returns.
BitMine Pushes Closer To 5% Ethereum Ownership Goal
As of Dec. 14, BitMine holds approximately 3.97 million ETH, valued near $12.2 billion at prevailing prices.
The position represents more than 3.2% of total Ethereum supply, placing the company roughly two-thirds of the way toward its stated goal of acquiring 5% of the network.
Total crypto, cash, and strategic investments now stand near $13.3 billion, including $1 billion in cash, 193 BTC, and a $38 million stake in Eightco Holdings.
Ethereum Treasury Becomes Core Corporate Strategy
BitMine’s Ethereum holdings now rank as the largest ETH treasury among public companies and the second-largest crypto treasury globally, behind Strategy’s (NASDAQ:MSTR) Bitcoin (CRYPTO: BTC) reserves.
Chairman Tom Lee said …
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