- BitMine bought 1 BTC, added 27,180 ETH, and raised its ORBS stake to $98 million. Its total ETH holdings now stand just 143,622 tokens short of a 5% supply stake.
- Chairman Tom Lee stated the ETH/BTC ratio has broken a long-term trendline, predicting the next cycle will be driven by tokenization and agentic AI.
- Lee described the GENIUS Act and the SEC’s Project Crypto as a ‘structural break’ for financial markets, comparing it to the 1971 end of the Gold standard.
BitMine Immersion Technologies announced Monday it acquired one Bitcoin and added 27,180 Ethereum (ETH) over the past week, bringing its total ETH stack to 5.96 million tokens. The firm’s ORBS stake rose to $98 million, while its Bitcoin holdings now sit at 212 coins.
Cash and market securities fell to $549 million from $593 million, according to the company’s statement. Chairman Tom Lee said the Ethereum-to-Bitcoin Price ratio hit its highest level since January 30, breaking a trendline in place since the COVID-19 highs.
“In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic AI using blockchains,” Lee added. Ethereum was trading at $2,503, up 1% in the last 24 hours.
Lee also said the GENIUS Act and the SEC’s Project Crypto represent a structural break comparable to the 1971 decision that ended the gold standard. BMNR stock slipped 0.2% in morning trading amid broader tech weakness.
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