BitMine buys $240 million in Ethereum amid rising prices

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BitMine Immersion Technologies, led by Tom Lee, purchased $240 million worth of Ethereum in its third consecutive weekly buy exceeding 100,000 ETH. The move coincides with Ethereum's continued price rise and Bitcoin hitting $80,000 for the first time since January. Meanwhile, Strategy skipped a Bitcoin purchase as BTC reached this milestone.

Tom Lee's BitMine Immersion Technologies announced its latest Ethereum acquisition, valued at $240 million, as reported by Decrypt. This marks the firm's third straight weekly buy surpassing 100,000 ETH, with the cryptocurrency showing upward momentum. Lee heralded the development as the arrival of 'Crypto Spring.'

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