Bitmine Immersion Technologies bought another $139 million in Ether last week, bringing its ETH holdings to 4.6 million.
Bitmine Immersion Technologies chairman Tom Lee says Ether’s “mini-crypto winter” may be in its final stages as the firm bought another $139 million worth of ETH, bringing it closer to its goal of acquiring 5% of the token’s circulating supply.
Lee said in a statement on Monday that Bitmine has maintained a higher buying pace over the last three weeks as it expects the wrapping up of a several-month-long Ether (ETH) slump as its “base case.”
The crypto markets crashed in October last year, with Bitcoin (BTC) falling from its all-time peak above $126,000 during the month, while Ether declined from its August high of $4,946. Analysts have been debating when the crypto markets will see a meaningful rebound.
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