Bitmine cuts Ethereum purchases as Tom Lee's firm redirects capital to share buybacks
Bitmine, the cryptocurrency firm led by analyst Tom Lee, has slowed its Ethereum buying as it pivots toward share buybacks, according to CoinDesk. The company purchased $14M in Ethereum while its cash position fell to $104M, per Decrypt. Bitmine has held 4.8% of Ethereum’s supply for five consecutive weeks, leaving it roughly 230,000 tokens shy of its stated 5% target.
This article is for information only and is not financial advice.
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