Bitmine Immersion Technologies (NYSE:BMNR) bought 7,391 Ethereum (CRYPTO: ETH) last week as Chairman Tom Lee said falling Fed rate hike odds point to easing conditions ahead for crypto.
What Bitmine Bought And Why The Fed Matters?
According to a Monday press release, Bitmine now holds 5,805,238 ETH worth roughly $11.2 billion at $1,928 per coin, representing 4.8% of Ethereum's total circulating supply and sitting 96% of the way to its stated goal of owning 5%.
The purchase extends the company's unbroken streak of weekly ETH buying to 14 consecutive months since adopting its Ethereum treasury strategy in June 2025.
Lee said the Clarity Act missing its Senate vote before recess was a disappointment, but financial markets are looking past it toward the macro picture.
