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Stock impact report

Tom Lee's BitMine Immersion added 41,000 ether as paper losses rise to $6 billion [Yahoo! Finance]

Eightco Holdings Inc. (ORBS) 
Company Research Source: Yahoo! Finance
crypto sell-off deepened its unrealized losses and sent its stock to new 7-month lows. The firm said in a Monday update that it bought 41,788 ETH last week, its largest weekly token haul so far this year, worth around $96 million at current prices. The purchase lifted BitMine's total ETH holdings to 4,285,125 tokens, or about 3.55% of Ethereum's circulating supply, according to a company update released Monday. The firm also holds 193 bitcoin (BTC), $586 million in cash, a $200 million stake in Beast Industries and a $20 million stake in Eightco Holdings. Ether fell to around $2,300 over the weekend, pulling the firm's total crypto, cash and equity holdings down to $10.7 billion. In Monday morning U.S. trade, the price had recovered modestly to $2,360. BMNR shares were lower by 5% With crypto prices falling sharply last week, the firm is estimated to be sitting on roughly $6 billion in unrealized losses on its position. Chairman Thomas Lee said ether's price weakness contrasts Show less Read more
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