BMNR Stock Rises as Tom Lees Bitmine Adds 101,745 ETH To Ethereum Treasury
Bitmines Chairman, Tom Lee, noted that they have maintained the increased pace of ETH buying over the past four weeks, based on their base case that ETH is in the final stages of the mini-crypto winter. Lee had also highlighted in previous weeks that ETH has outperformed since the U.S.-Iran war began in February. Notably, the BMNR stock has mirrored Ethereums price action, rising almost 19% over the last month. ETH is up almost 14% during this period. However, the crypto stock and ETH remain down year-to-date (YTD). As part of its recent ETH accumulation, Bitmine has also bought ETH from the Ethereum Foundation in several over-the-counter (OTC) transactions. As CoinGape reported last week, Bitmine acquired 10,000 ETH from the Ethereum Foundation, the second transaction in as many weeks. “Crypto Spring” Already On The Horizon Tom Lee indicated that the “crypto spring” is already on the horizon, with ETH and the BMNR stock set to see higher prices. “Crypto Spring, in our view, has commenced, and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen,” he noted. The Bitmine chairman also alluded to the potential passage of the CLARITY Act, or even its failure, as one development that