Bitmine Slows to 8,573 ETH Buy as Tom Lee Downplays Binance Hack
By Unchained
AI summary of the source article
Bitmine Immersion Technologies purchased 8,573 ETH in the week ending Nov. 1, raising its total holdings to 6,060,506 ETH. Chairman Tom Lee highlighted the crypto market's muted reaction to a $6.3 billion Binance hack as a sign of industry resilience.
Why it matters
Chairman Tom Lee stated that the muted market reaction to the Binance theft "is a sign that the crypto industry is increasingly resilient and more capable of absorbing these nation-state assaults on financial infrastructure."
Key facts
- Bitmine bought 8,573 ETH in the week through Nov. 1, taking its total stash to 6,060,506 ETH, or 4.9% of the supply.
- The company reported 5,227,037 ETH staked, worth $11.8 billion based on the Nov. 1 ether price of $2,261.
- The combined value of Bitmine's crypto, cash, and other stakes declined to $14.5 billion from approximately $15 billion.
Source excerpt · Unchained
Bitmine's crypto, cash and stakes fell to $14.5 billion from about $15 billion a week earlier as ether slipped, leaving the company roughly 49,500 ETH short of its 5% goal. The post Bitmine Slows to 8,573 ETH Buy as Tom Lee Downplays Binance Hack appeared first on Unchained .