Bitmine last week accumulated an additional 41.788 ETH ($96M), increasing its total holdings to nearly 4.3 million ETH ($10B). Currently, the company is facing a loss of over -$6.5B (~negative 40%).

Boss Tom Lee remains very optimistic as he observes that despite the decline in ETH prices, on-chain activities such as volume and active wallet addresses continue to reach new highs. He believes that the current price does not accurately reflect the true value of ETH, and this is a good time to accumulate more.