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#GateSquareAprilPostingChallenge
After this purchase, the total volume of the second cryptocurrency in BitMine wallets reached 4.803 million ETH, worth $10.3 billion at the current exchange rate. The company's share of the total circulating supply of these coins reached 3.98%. Previously, BitMine announced its intention to accumulate 5% of the total circulating ETH.
The total staked ETH in BitMine's portfolio reached 3,334,637 ETH: at $2123 per token, this is about $7.1 billion. The company has staked more ETH than any other organization on the planet, said CEO Tom Lee (Tom Lee).
Tom Lee stated that BitMine has been maintaining high purchase rates of ETH for four consecutive weeks. According to him, the company aims to buy the asset on dips and is waiting for growth, as ETH is currently in the final stage of the so-called "mini crypto winter."
Tom Lee also believes that ETH is a promising investment amid the conflict in the Middle East.